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Mumias Sugar Company has become the first Kenyan company to receive payment for reduction of carbon dioxide emissions, paving the way for others to open fresh income streams from carbon trading.
The sugar miller will receive Sh22 million from selling 43,000 tonnes of carbon dioxide arising from its electricity generation plant that uses sugar waste.
The venture allowed the sole power supplier, Kenya Power and Lighting Company (KPLC), to reduce its intake of power generated from diesel engines, the major emitters of carbon dioxide.
Carbon trading involves the purchase of credits by mainly European and Asian firms that have exceeded their emissions limits.
Trading happens in exchanges in the US and Europe.
Mr Peter Kebati, the Mumias chief finance officer, said the carbon credits arose from electricity generated between May 2009 and February this year.
The miller earned Sh359 million from the power it sold to KPLC in the year to June.
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