The GD Power Development Co. Ltd. has signed an agreement on the reduction of carbon dioxide emissions with a British energy company, sources with GD Power confirmed on Tuesday.

Under the accord, the Shanghai-listed firm will sell carbon emission reductions of two million tons to the Britain-based SSE Energy Supply Ltd. for 20 million euros before November 30, 2012.

The carbon emissions are to be reduced by a series of wind power projects carried out by the Chinese company.

The agreement will also help raise income from electricity to be supplied by the wind power projects by 0.09 to 0.1 yuan per kw/hour.

The sources said the fulfillment of the agreement depended partly on the operation of the wind power projects and supervision and recognition of the projects by an independent third-party agency on international markets.

Energy efficiency and emissions reduction have been one of the top concerns of the Chinese government for further development of the national economy.

(Xinhua News Agency September 12, 2007)