March 29, 2018 by Ronjoy Bezbarua
ARB’s second CCO issuance, while not as large as the previous phenomenal issuance was still significantly large with over over 1.6 million CCOs entering the supply. Out of the 5 projects which were granted CCOs for the week, 4 were livestock projects and a single forestry project. The offset credits issued for Powellton IFM (ACR267) project amounted to over 1.5 million CCOs with close to 300K in the buffer pool which accounted for 96% of the total CCOs issued for the week.
The remaining 4% of the CCOs issued for the month were accrued by four livestock projects. Just over 5.5K CCOs were issued to Maas Energy Works’s Livestock (CAR1245) project in California. WTE-Dallmann (CAR1143) livestock project, developed by Ag-Methane Advisors was awarded CCOs to the tune of 16.8K from its second reporting period. Two projects developed by 3Degrees Group gained were granted CCOs in the latest issuance – Kettle Butte Digester project which scored 24,220 CCOs and second Dairy Dreams Methane Reduction Project for which 16,999 CCOs were issued.
Over 69K CCOs-8 transitioned to CCOs-3 for the week. 3Degrees Group’s Dairy Dreams Methane Reduction Project saw 24,473 CCO-8s from its second reporting period transition to CCO-3s. The current backlog of ROCs, which now stands at 32.6 million ROCs. A few large forestry projects account for the majority of this backlog and significant CCO issuances can be expected to provide a boost to the supply from these projects.
ARB’s next issuance takes place on the 11th of April.
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