Project Support
One of the key activities under the Carbon Market Development Support Programme is to enable projects funded under MidSEFF to benefit from additional revenues generated through the sale of carbon credits. Currently six projects receive support with various carbon asset development activities. The risks and associated costs of successfully registering a project as a carbon project are taken on by MidSEFF, provided the costs are recovered from carbon revenues received from the successful sale of carbon credits by the project sponsor.
Figure: Overview of technical assistance to project sponsors
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Source: Climate Focus and GAIA, 2021
The programme provides support through the full carbon asset development cycle, starting with the initial project feasibility assessment up to the final sale of their carbon credits. Specifically, MidSEFF support includes:
- Project identification: an initial pre-feasibility assessment phase is necessary to advise whether the identified MidSEFF financed activity is eligible to be developed as a carbon project
- Preparation of documentation: the next step in the carbon asset development cycle is the preparation of project-specific documents (project design documents, or PDDs, amongst others) that present an activity’s emission reduction potential and provide evidence of the project’s eligibility under a chosen carbon standard. The consultancy supports project sponsors with the completion of this documentation, including the definition of a baseline scenario and presentation of the additionality case
- Validation support: once all project-specific documentation is prepared, a third-party auditor is contracted to inspect the accuracy of the presented information, confirm applicability of the chosen baseline and monitoring methodology, and assess the overall eligibility of the proposed activity to the selected carbon standard. The consultancy assists project sponsors throughout this audit and drafts responses to any questions raised by the validator
- Registration support: a positive validation opinion by the third-party auditor is required before the board of the chosen carbon standard can approve the proposed project and list it as a registered activity. The consultancy assists project sponsors with addressing any comments raised during the registration phase
- Monitoring support: once registered, project sponsors need to monitor and report performance data and the associated GHG emission reductions. The consultancy supports project sponsors with the preparation of monitoring reports covering a defined monitoring period (typically one year)
- Verification support: once the monitoring report is available, a third-party verifier is contracted to audit reported performance data. The auditor’s opinion report forms the basis for the amount of carbon credits that can be requested for issuance. The consultancy assists project sponsors by preparing clarifications to questions that may come up during the verification phase
- Sales advice and support: once carbon credits are successfully issued, the consultancy can support project sponsors with the marketing and sales of the credits. Support with monetisation includes assistance with direct sales through a trading platform and liaison with carbon brokers, traders, aggregators and large end-users of offset credits
Carbon Projects Portfolio
MidSEFF is currently supporting five projects, which are featured below. The project "Bursa light rail system II phase" received support from EBRD, but not under MidSEFF.
Figure : Overview of projects supported under the carbon market development programme
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Source: Climate Focus and GAIA, 2021
The Sena hydropower plant (HEPP) in the Aras River basin consists of two run-of-river hydroelectric generators, each with a capacity of 10.72 MW.
SENA HEPP is expected to generate approximately 68 GWh per year of renewable energy.
The electricity gen erated is delivered to the national electricity grid, thereby avoiding electricity generation from fossil fuel sources, such as coal. The annual emission reductions to be realised by the Sena hydropower project have been estimated at 38,000 tonnes of CO2e. The project is located in a very poor region of Turkey and provides financial and other support to local communities.
The project contributes to the following Sustainable Development Goals (SDGs - see text box below):
The Edincik Wind Power Plant (Edincik WPP) is a 56.4 MW wind farm located on the southern coast of the Sea of Marmara at Bandirma in Balikesir Province, Turkey. The 23 wind turbines are expected to generate 180 GWh of renewable energy each year. The electricity generated will be delivered to the national electricity grid, thereby avoiding electricity generation from the use of fossil fuel sources, such as coal. The annual emission reductions to be realised by Edincik WPP have been estimated at 106,000 tCO2e.
In addition to the reduced GHGs, the project also contributes to social and economic development through education, sanitation, job creation, technology transfer and improved agricultural production.
The project contributes to the following SDGs:
Söke Wind Power Project
- Type: Wind
- Standard: Gold Standard
- Methodology: ACM0002
- Emission reductions: 84,840 tCO2e / yr
- Click here to view the PDD
Söke Wind Power Plant consists of 15 x 3 MW turbines with a rotor diameter of 90 m and a hub height of 90 m. The Söke Wind Farm will be connected to the national electricity grid through a 20 km length transmission line, which is part of the project.
The plant has a capacity factor of 38.5 per cent a nd is expected to produce 141.1 GWh/year, equivalent to cover the demand for over 43,000 households. The energy produced will allow saving over 84,840 tCO2/year.
The project contributes to the following SDGs:
Reis Enerji Grouped Hydropower Project
- Type: Hydro
- Standard: Verra VCS
- Methodology: ACM0002
- Emission reductions: 18,890 tCO2e / yr
- Click here to view the PDD
The first project included under this programme is the Cayalti hydropower project. This hydro project includes two turbines with an installed capacity of 11 MW and 10.56 MW. Cayalti HE PP is located in the western part of the Black Sea region in the Zonguldak Province. It is expected that in future other hydro projects will be included in this Grouped Project.
The project contributes to the following SDGs:
Babadere Geothermal Electric Power Plant
- Type : Geothermal
- Standard: Gold Standard
- Methodology: ACM0002
- Emission reductions: 20,580 tCO2e / yr
- Click here to view the PDD
The Babadere Geothermal Electric Power Plant has a planned installed capacity of 7 MW fed by the geothermal resources from six wells and using binary organic cycle (ORC) technology. The plant is expected to produce 41.68 GWh/year, equivalent to cover the demand for over 19,000 households. The project is currently undergoing validation.
The project contributes to the following SDGs:
This EBRD funded project (but not through MidSEFF) consists of the construction and operation of the two new extension lines:
- Line 1 - Emek Line (Mudanya Road Kuzey Line) with a length of 2.2 km and 2 stations and
- Line 2 - University Line (Bati Line) with a length of 6.6km and 6 stations
to the existing light rail transport system in the city of Bursa.
The project allows the passengers to use a modern low carbon public transport system instead of conventional modes of transport such as buses, minibuses, dolmus, shuttle, passenger cars, taxis, motorcycles, which cause significant CO2 emissions.
The project contributes to the following Sustainable Development Goals (SDGs - see text box below):
Sustainable Development GoalsIn 2015, the 193 countries of the UN General Assembly adopted the 2030 Agenda for Sustainable Development that sets out 17 overarching goals calling for action to end poverty, protect the planet and ensure peace and security. The Sustainable Developments Goals (SDGs) build on the achievements of the Millennium Development Goals, which had set eight international development goals and concluded in 2015. The SDGs include aspirations such as ending poverty and hunger, improving health and quality of education, and supporting gender equality. Besides these targets, the SDGs also relate to climate issues, calling for climate action, sustainable cities, and responsible consumption. Furthermore, SDG 7 on affordable and clean energy promotes the scale up of renewable sources of energy. Progress on achieving these goals across 169 agreed targets and 304 indicators is to be reported on an annual basis. On July 2016, the first SDG report was released, presenting an overview of the goals using most recent data to highlight existing gaps and challenges. The latest SDG progress report (2020) provides insight into the progress booked to date, including evaluating some of the devastating initial impacts of Covid-19 on specific Goals and targets. For more information about the Sustainable Development Goals, please click here . Figure: Overview of the 17 SDGs
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