About EEA Carbon & Environment

Since its inception, EEA has played a significant role in the carbon market. It is one of the largest asset managers/advisers in the sector with over £354m under advice. We have built a team of highly experienced carbon professionals that ensures that assets are managed to secure and maximise carbon value.

In 2003, EEA commenced its role as investment adviser to Climate Exchange PLC, prior to and following the company's admission to AIM. Climate Exchange was established to finance the Chicago Climate Exchange and the European Climate Exchange, the leading regional exchanges for GHG emissions trading. Additionally the vehicle has invested in biofuel and renewable energy ventures.

Following the success of Climate Exchange, EEA was instrumental in the establishment and fund raising for Trading Emissions PLC (TEP).

TEP is an AIM quoted investment company that invests directly in tradable environmental credits and in projects that will create such commodities, principally Certified Emissions Reductions (CERs) generated by CDM and JI projects under the Kyoto Protocol. As exclusive investment adviser, EEA originates, structures and advises TEP on its investments.

Following TEP's initial fund raising in April 2005, EEA recruited a team of professionals with extensive experience in the CDM market. The team went on to allocate TEP's initial tranche (£135m) of capital within ten months and deliver a project pipeline that enabled a second tranche of capital (£175m) to be raised in May 2006. EEA's Carbon & Environment team not only advises TEP but also manages carbon procurement accounts for a number of EU ETS participants. Such accounts include the provision of EU ETS trading services and the procurement of CERs.

TEP commercialises its carbon credits predominantly through the European Climate Exchange, but has also sold credits to a number of European governments, including the UK. EEA won a highly competitive tender, on behalf of TEP, to exclusively supply the UK Government Carbon Offsetting Fund with CERs from small scale, highly sustainable CDM projects and completed this transaction with delivery of 305,000 CERs in April 2009. CERs were used to offset ministerial and official air travel. A second phase of UK government offsetting was launched in 2010; EEA and TEP were selected to be one of a small number of authorised suppliers.

TEP (Solar Holdings) Ltd (“TEP Solar”) is an Irish company formed in early 2010 to pursue, in particular, opportunities within the photovoltaic (PV) sector in Europe. As of today, it has already acquired two companies operating photovoltaic plants with a total installed capacity of 10.4 MW in southern and central Italy; these plants benefit from the 2010 Italian feed-in tariff and one of the plant has obtained a project finance facility of approximately €40m from Deutsche Bank and Centrobanca. Currently TEP Solar is working on the acquisition of companies owning up to an additional 20 MW of PV plants and its aim is to create a photovoltaic platform with a portfolio of 60 MW capacity by the end of 2011. The strategy of TEP Solar is to focus on making investments in companies with operational assets across the central and southern regions in Italy, and potentially also France and the UK. TEP Solar is a subsidiary controlled by the AIM listed investment company Trading Emissions PLC (“TEP”), that has invested €30m in TEP Solar. TEP is advised on all PV sector transactions by its investment adviser EEA Fund Management Limited (“EEA”), and it is currently provided advisory services for the operation of the PV assets.

To fulfil these mandates the EEA group has established offices in London, Beijing, Dublin, Singapore and Washington DC.

Further details on team members are available on the Investment Advisers page.