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EIB outlines 300m EU carbon allowance sell-off

The European Investment Bank (EIB) has announced new details about how it plans to sell off 300m EU carbon allowances to finance renewable energy and clean technology projects.

It will start selling the EUAs from next month onwards, expecting to bring around 20m per month to the market. The bank aims to complete the sale of all allowances by end-2012 although it acknowledges that sales may spill over into 2013.

The EU currently holds the allowances to cover emissions from new entrants into the market and the European Commission is expected to hand the allowances to the bank in November in two tranches – the first of 200m, followed by a second, 100m tranche.

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