The state-run company Monday sold allowances worth EUR2.92 million to Ducth-registered NL Energy&Climate Change, with another EUR1.41 million to be collected in by the end of the month, Hidroelectrica said in a statement Tuesday.
The company expects it will be able to trade another EUR1.73 million of greenhouse gas allowances in the coming period.
Each allowance represents one ton of greenhouse gas emissions.
“Under the Kyoto protocol, Hidroelectrica can convert the power produced at its new production capacities into carbon dioxide (CO2) allowances that will generate additional revenue of over EUR6 million,” Hidroelectrica said.