Analyst Wrap, 10 June 2005

THIS week Pacific Hydro negotiated the world's first bank-intermediated carbon credit transaction using two Fijian hydro-power projects to generate certified emission reduction (CER) credits under the Kyoto Protocol.

Under the terms of the sale, Pacific Hydro's Fijian joint venture Sustainable Energy Limited will sell all of the CERs created by its two hydro projects in Fiji.