www.greenearthenergy.com.au
Greenearth Energy (ASX: GER) is a diversified Australian renewable energy company that has interests in conventional geothermal resources in Australia, Indonesia and the wider Pacific Rim as well as technology opportunities and project applications in the waste heat recovery, energy efficiency, combined heat and power solar and CO2 to fuel conversion markets.
Greenearth Energy's projects and technologies are designed to deliver energy security outcomes in a carbon constrained world.
The company listed on the Australian Securities Exchange (ASX) on the 4 February 2008.
Greenearth Energy granted accreditation to produce energy saving certificates for clients
Greenearth Energy (ASX: GER) can now produce energy saving certificates, improving the financial returns of clients, after being awarded ‘Accredited Certificate Provider’ status under the New South Wales Energy Savings Scheme.
The scheme's principal objective is to create financial incentives to reduce the consumption of electricity through energy savings activities.
Mark Miller, managing director, said “by earning Energy Savings Certificates we are able to offer our clients improved financial returns as well as improving the uptake of our solutions.”
By producing the certificates the company can manage the governance and administration requirements associated with this activity as well as undertake the process of trading the certificates to scheme participants for each eligible project.
Participants in the scheme purchase certificates from Accredited Certificate Providers who create the certificates following the completion of energy saving activities.
The scheme places a requirement on participants, such as energy retailers, to obtain and surrender Energy Savings Certificates that represent eligible energy savings under the scheme.
The Independent Pricing and Regulatory Tribunal, a New South Wales government body, provided the accreditation in relation to the specific Recognised Energy Savings Activity (RESA) for High Intensity Discharge (HID) lighting equipment upgrade and optimisation.
This RESA accreditation reflects Greenearth's use of core technology provided by Israeli-based partner, Metrolight. Metrolight is the leading manufacturer of Smart Electronic Ballasts that power HID energy efficient lighting systems.
Richard Branson's Virgin Green Fund has invested in Metrolight whose HID lighting solutions can deliver substantial energy savings of up to 65%.
The company’s subsidiary, Greenearth Energy Efficiency, provides comprehensive lighting solutions to customers, including: core electronic HID technology, sensors, control systems alongside turnkey installation and commissioning of complete systems either for retrofitting of existing premises or new installations that offer a more effective energy efficiency solution.
Greenearth may add further RESAs that could include projects from lighting upgrades using different technologies, or projects from company subsidiaries such as waste heat recovery projects from Pacific Heat and Power, as well as potential solar hot water upgrades using existing Greenearth Solar Energy technology called ZenithSolar.
Greenearth is currently advancing the Geelong Geothermal Power Project, in which the company signed an agreement with Alcoa (ASX: AAI) late last year.
