Hoang Manh Hoa, head of the Climate Change Department under the Vietnam Bureau for Climate Change and Hydrometeorology, told last Thursday that Vietnam encouraged the selling of CERs under the Clean Development Mechanism (CDM) to developed countries.

The price of CER depends on scale, location or technology of projects but a CER is often priced at US$8-16, Hoa said.

Besides, CER sellers are required to contribute 1.5% of the profit gained from the purchase to State coffers.

Germany’s Deutsche Bank early this week has bought all CERs of Dong Nai 2 hydropower plant in ten years when power of this plant is generated, helping developer Trung Nam Co. earn US$1.5 million a year.

Dong Nai 2 has been registered as a CDM project, enabling it to sell over 150,000 CERs a year.