Local Stakeholder Consultation for "Household appliance distribution in Cambodia-CPA004"

Proposed CPA "Household appliance distribution in Cambodia-CPA004"
CDM Programme of Activities (PoA) 10030: "Household Energy appliance programme"
Coordinating Managing Entity (CME): Differ Cookstoves AS

C-Quest Capital LLC (USA) on behalf of the Coordinating Managing Entity, Differ Cookstoves AS, and Ecoeye Co., Ltd. (South Korea) would like to invite you to a stakeholder consultation for the proposed carbon finance project activity entitled “Household appliance distribution in Cambodia CPA-004”. The proposed CPA will be under CDM Programme of Activities (PoA) 10030: "Household Energy appliance programme" developed under the Clean Development Mechanism of the Kyoto Protocol and seeks to obtain Certified Emissions Reductions to increase the availability and affordability of improved cookstoves in Eastern Cambodia.

A Local Stakeholder Consultation (LSC) is being held in Krong Sen Monorom, Mondulkiri province and is open to the public.

Location: Conference Room of Mondulkiri Hotel, Krong Sen Monorom, Mondulkiri Province
Date: Monday, 25 June 2018
Time: 8:00 AM – 11:00 AM

RSVP: Please RSVP to Reaksmey Long at rlong@cquestcapital.com

We would be very pleased to have your presence during this local stakeholder consultation to listen to your opinions, comments and suggestions on the improved cookstove program. Your input will be greatly appreciated.

You can also send any comments you may have via email to Jason Steele at jsteele@cquestcapital.com.

View Agenda [English]

View Non-Technical Summary [English]




Local Stakeholder Consultation for "Household appliance distribution in Lao PDR-CPA003"

Proposed CPA "Household appliance distribution in Lao PDR-CPA003"
CDM Programme of Activities (PoA) 10030: "Household Energy appliance programme"
Coordinating Managing Entity (CME): Differ Cookstoves AS

C-Quest Capital LLC (USA) on behalf of the Coordinating Managing Entity, Differ Cookstoves AS, and Ecoeye Co., Ltd. (South Korea) would like to invite you to a stakeholder consultation for the proposed carbon finance project activity entitled “Household appliance distribution in Lao PDRCPA-003”. The proposed CPA will be under CDM Programme of Activities (PoA) 10030: "Household Energy appliance programme" developed under the Clean Development Mechanism of the Kyoto Protocol and seeks to obtain Certified Emissions Reductions to increase the availability and affordability of improved cookstoves in Lao PDR.

A Local Stakeholder Consultation (LSC) is being held in Vientiane, Lao PDR and is open to the public.

Location: Plaza Hall (first floor) of the Lao Plaza Hotel, Vientiane, Lao PDR
Date: Thursday, 4 January 2018
Time: 8:30 AM – 11:30 AM

RSVP: Please RSVP to Jason Steele at jsteele@cquestcapital.com

We would be very pleased to have your presence during this local stakeholder consultation to listen to your opinions, comments and suggestions on the improved cookstove program. Your input will be greatly appreciated.

You can also send any comments you may have via email to Jason Steele at jsteele@cquestcapital.com.

View Detailed Agenda [English]

View Non-technical Summary [English]





We are Hiring! Compliance Specialist (GHG Mechanism)

Desired Profile

  • Post-graduate degree in energy/environment or relevant engineering degree (management degree desirable, but not mandatory)
  • Understanding of GHG Mechanism in the area of CDM including Kyoto Protocol, Marrakech Accords, Methodologies, Project Design Documentation, Baseline Scenario, Monitoring Reports and validation / verification reports

Job Description

  • Understand, assess and evaluate Carbon Credit possibilities in demand side energy sector.
  • Assist technically in development of GHG projects and to take it further through the complete process of registration.
  • Conversant with CDM methodologies and procedures, especially in RE, EE sector, VCS, GS Guidelines etc.
  • Good skills in technical document preparation
  • Coordination with internal departments, consultants, regulatory bodies, carbon credit buyers and work in close cooperation with other disciplines.
  • Local and international travel to manage project site

Work Experience

  • Minimum 4-5 years’ experience in GHG, sustainability market

Other Skills

  • Good verbal and written communication, presentation skill and report writing
  • Good technical and analytical abilities
  • Advance skills in excel use
  • Good data management skills
  • Basic proficiency in using statistical tools & software.
  • Self-motivation for community related works
  • Willing to work in LDCs

Salary and benefits

  • Very competitive in the market with additional benefits
  • As per international GHG market

Organization Profile

C-Quest Capital (CQC) is a social impact investment platform that channels funds to the poorest communities and families in the developing countries using carbon finance. C-Quest Capital’s mission is to transform the lives of the poorest communities in developing countries by providing access to clean efficient energy technologies and sustainable fuels.

Send your resume to

If you have the zeal to work for community and willing to apply your academic learning to improve community’s basic energy needs, send your resume to tgoswami@cquestcapital.com with the following detail.

  • A cover letter detailing your interest and eligibility on the job
  • A note on “Improved Energy Access for Community Development” (not more than 1000 words)
  • List of projects you are involved or managed
  • Willingness to relocate to Delhi, Bangalore or Hyderabad
  • Expected salary
  • Maximum days in a month you can give on travel
  • Only shortlisted candidates will be called for interview.

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CQC achieves another First – Carbon Credit from the Largest Solar PV Plant in Latin America

CQC is delighted to announce that it has completed verification of the first project under its CDM Program of Activities to generate carbon credits for solar development in Chile.

CQC has a partnership with First Solar to create the first ever carbon credits from large scale solar displacing coal-fired power in Latin America. Independent carbon auditors have confirmed that the First Solar power plant has produced 245,000 tons of CO2 emissions reductions, to be issued as Certified Emissions reduction (CERs) under the United Nations Clean Development Mechanism (CDM).

CQC designed, funded and registered the CDM Program of Activities (PoA) that includes the Luz del Norte. Once registered, First Solar became the first partner of CQC under the PoA.

The Luz del Norte project is the largest photovoltaic (PV) solar power plant in Latin America occupying 478 hectares of land located 58 km northeast of Copiapó, Chile. The project diversifies Chile’s energy portfolio and created up to 370 jobs during peak construction and 10 ongoing operations and maintenance positions. The 141 megawatt (MW) alternating current (AC) project is powered by more than 1.7 million First Solar advanced thin film PV modules, producing enough solar energy to power 174,000 homes and displace the equivalent of more than 185,000 metric tons of CO2 emissions per year.


C-Quest Capital Solar Plant Chile 

C-Quest Capital Solar Plant Chile 

C-Quest Capital Solar Panel Plant in Chile 

C-Quest Capital Solar Panel Plant in Chile 

Solar Plant in Chile - C-Quest Capital 

Solar Plant in Chile - C-Quest Capital 

Stove Auction Success

CQC’s management of the Stove Auction on contract to SNV in Cambodia is a great success. The last Auction held today punched through the 5000 stoves mark with good completion from distributors on price. Since the auction started the prices bid for the high end forced draft “gasifier” stoves has moved up 51% to be in the range of Euros 40-50 each. The objective is to move bid prices on the platform to the wholesale price for stoves sold under fully commercial conditions. Recent movement in price at the auction is encouraging that prices may get close to these levels before the auction ends. In the meantime, CQC is introducing a fuel and stove bundle that enables the full retail price of these sophisticated stove to be amortized overa 12 month period as part of a fuel delivery price that reduced the cost of cooking significantly compares to charcoal. We will post the launch of this product in April when a large scale market pilot begins.

40MW Solar PV power plant Malawi

As a member of the Atlas Energies consortium in Malawi and in partnership with ibvogt, Germany, CQC and partners have submitted a highly competitive bid for construction of emergency solar PV power to augment supply to the Escom grid. Then consortium was able to keep its bid low down in single digits and offer Tier I components for site for which it has conducted full feasibility. Technical evaluation of the bids is now underway. Once shortlisting of technically qualified bidders has been completed, bid price evaluation will proceed. Technical; evaluation and announcement of shortlisted companies is to be completed by March 31st. 

Can economic incentives enhance adoption and use of a household energy technology? Evidence from a pilot study in Cambodia

Results from a pilot study in Cambodia led by Faraz Usmani and Marc Jeuland from Duke University with contribution from Jason Steele in his previous position as Sector Leader Renewable Energy, SNV Cambodia, and now the Chief Operating Officer at C-Quest Capital, are now published in the scientific journal Environmental Research Letters. The full article is open access and can be viewed online and downloaded in PDF format here.


While much work has examined approaches to increase uptake of a variety of household environmental, health and energy technologies, researchers and policymakers alike have struggled to ensure long-term use. Drawing on a pilot-scale experiment conducted in rural Cambodia, this study evaluates whether economic incentives enhance continued use of—and fuel savings from—improved cookstoves (ICS). Capital-cost subsidies that have been traditionally employed to enhance ICS adoption were augmented with rebates linked to stated and objectively measured use in order to investigate impacts on both initial and sustained adoption in the treatment group. Results show that households do respond to these rebates by adopting the intervention ICS at significantly higher rates, and by using it more frequently and for longer periods. Consistent with these stove-use patterns, solid-fuel use and time spent collecting or preparing fuels also decline. However, this effect appears to diminish over time. Thus, while economic inducements may significantly increase adoption and use of new environmental health technologies, corresponding reductions in environmental or livelihood burdens are not guaranteed. Additional research on the design and implementation of incentive-based interventions targeting households directly—such as carbon financing or other forms of results-based financing (RBF) for improved cookstoves—therefore seems warranted prior to wider implementation of such solutions.

Ongoing Success in Rural Stoves Carbon

In the first two weeks of January, CQC's African cookstoves projects achieved issuance of a further 186,000 carbon credits from a stove fleet of 114,000 in rural Malawi and Zambia.  These events mark an important milestone in CQC's partnership with the leading suitable rural livelihoods NGOs in the South-East Africa region, Total LandCare of Malawi, and COMACO of Zambia.

The success of these projects has enabled CQC and its NGO partners to plan a further round of stove investments building on the many lessons learned from consumer feedback and track record of stove wear and tear under constant use. This feedback has led to complete redesign of the metal components of the original TLC-CQC stove, making it possible to envisage a ten-year life for a rural stove built with high grade heavy stainless steel parts coupled with much greater emphasis and support for ongoing maintenance of bricks and mortar stove infrastructure by the women who build and operate them. Already CQC has invested in more than 50,000 "next generation" stoves that are in various stages of installation across Malawi, Nigeria and Zambia. New long-life materials are being closely monitored in the field and subjected to stress testing in a US laboratory.

Recognition of CQC's Unique DNA in Carbon Finance

Source: IETA 

Source: IETA 

World Bank Top Manager:  In her first address to staff on taking up her new role as World Bank CEO, Kristalina Georgieva acknowledges role of CQC Founder, Ken Newcombe, as a pioneer of the global carbon market in the World Bank as an example of how the Bank can be an innovator on a global scale. Kristalina is reflecting on climate change doubters and skeptics of the idea of making a market in greenhouse gas emissions to mitigate climate change when she says "...carbon trade was like a cuckoohead idea, and there was a guy named Ken Newcombe who said, well lets test it, and we actually made it happen, and that is what..I see in this job..to have the ability, to have the bravery, when we hear is (something is) impossible, to just..get it done". Current and ex-World Bank staff with access to the Bank’s intranet can get all of Kristalina's Return to the Bank speech.

Ken and his team won an internal competition for new product development under an initiative for innovation spearheaded by then Bank President Jim Wolfenson. $3.25 million was allocated to Ken to set up a team and prepare the first global carbon fund. The Prototype Carbon Fund achieved first closing on April 11, 2000 at $135 million and second closing in December 2000, with a total 6 government and 13 large corporate investors from Europe and Japan.

IETA: In recognition of his contribution to carbon market development, Ken Newcombe, CQC's CEO, was admitted as a Fellow of the International Emissions Trading Association in its December 2016 Board meeting.

History of Carbon Market Development: In November 2016, the International Emissions trading Association published an oral history of carbn market creation "From Kyoto to Paris" which noted the role played by Ken Newcombe as an entrepreneur inside the World Bank Group in the 1990's to persuade the President of the World Bank to have the Bank take the lead in pioneering the global carbon market through the establishment of the Prototype Carbon Fund which laid out the rules of the game for creating and trading greenhouse gas emissions reductions as a marketable commodity under the UNFCCC.

Q4 2016 Update - The Stove Auction, Cambodia

As of early October, C-Quest Capital (CQC) Cambodia is under contract with SNV Netherlands Development Organisation Cambodia to manage The Stove Auction project. The Stove Auction is an innovative concept developed by SNV that facilitates the sale of advanced biomass stoves between international stove suppliers and local distributors through an auction platform in Cambodia.

As of mid-December 2016, 16 auctions have been conducted with 3,604 advanced biomass stoves sold. The auctions started in late March 2016 under SNV management and transitioned to CQC in October 2016. CQC has implemented the past 5 auctions, selling 2,176 stoves in just the past 2.5 months. 

“So far so good” is how CQC’s Chief Operating Officer, Jason Steele, explains the progress of the world’s first wholesale auction for advanced biomass stoves.  “We are testing a hypothesis for a new way of developing the market for advanced biomass stoves, which have struggled to gain market share in most other places in the world. And so far, it is going quite well. The market is reacting positively to these stoves. We have 10 registered bidders and half of them are quite active, returning to the auction on multiple occasions for more stoves. We see evidence of their consumer sales records when they claim their results-based-financing payments, so we know people are buying them and paying retail prices that most other development practitioners in- and outside of Cambodia said would be impossible. Consumers in poorer strata do care about their cooking appliances and are willing to pay more for the benefits that these stoves provide,” explains Steele.

“The auction is not without its challenges though. We see auction prices remaining on the lower end and stagnant, requiring more results-based financing funds to fill the gaps. We have plans to address this through a new reserve price policy by setting a specific floor price per stove per auction that gradually increases over time, and of course to increase the number of registered bidders thereby increasing competition and having bid amounts increase naturally. The reserve prices will be published compared to how it is now, which is a hidden reserve price that has been a fixed percentage of the Full Wholesale Value of the stove that increases on a periodic basis,” explains Steele. 

Photos: The Stove Auction warehouse in Phnom Penh, Cambodia   

Photos: The Stove Auction warehouse in Phnom Penh, Cambodia


Advanced biomass stoves purchased through the auction have reached consumers in 16 provinces to date, the majority in Svay Rieng, Kampong Speu, Prey Veng, and Phnom Penh. The buyers of the stoves at auction are locally registered companies in Cambodia, mostly with a last-mile distribution sales and marketing approach. They place their bids on auction day via SMS messaging and receive periodic updates throughout the day on the status of their bids, giving them a chance to increase their bid price and volumes if desired.

The Stove Auction warehouse managed by CQC is located in Phnom Penh Thmei district in Phnom Penh. It is currently filled with the world’s most efficient and cleanest portable biomass stoves, including the ACE-1 Solar Biomass Cookstove produced by African Clean Energy (a Dutch company manufacturing in Lesotho), Mimi Moto Cookstove produced by Mimi Moto (a Dutch company manufacturing in China), Prime Fuelwood Square produced by Prime Cookstoves (manufactured in Indonesia), and 3G Small produced by Solar Serve (manufactured in Vietnam).

For more information about The Stove Auction, please visit www.thestoveauction.org

C-Quest Capital manages The Stove Auction trading platform in Cambodia

CQC launched a fully owned subsidiary, C-Quest Capital (Cambodia) Co., Ltd., in Cambodia in early September 2016 to manage The Stove Auction project funded by SNV Netherlands Development Organisation and GIZ/Energising Development and to further grow its business in Southeast Asia. The Stove Auction is an innovative concept developed by SNV that facilitates the sale of advanced biomass stoves between international stove suppliers and local distributors through an auction platform.

CQC signed an agreement with SNV to manage The Stove Auction as of 3 October 2016. The Stove Auction project in Cambodia is expected to distribute over 40,000 advanced biomass cookstoves over the next three years.

Please read the joint press release issued by SNV, CQC and EnDev.

For more detailed information about The Stove Auction, please visit www.thestoveauction.org

BIX Capital, an initiative of Shell Foundation and Cardano Development, announces First Close and funding partnership with CQC

CQC is thrilled to enter into a partnership with BiX to expand our cookstoves projects in rural Africa with our remarkable on-ground partners in Malawi, Zambia and Nigeria, TLC, COMACO and SOSAI respectively. BiX funds will also us to supply new upgraded stoves and enhanced operational procedures to enable consumers to have the benefit of cleaner cooking and cleaner households air for up to ten years based on enhanced durability of key metal parts of women and artisan-built mud brick and metal stoves.

During August, CQC completed its 50,000 stoves project with COMACO in Zambia, achieved the 64,000 stoves built target in Malawi, and reach the 10,000 rural stoves milestone in Northern Nigeria. An additional 40,000 stoves will be built across these geographies over the next year using new stove parts designed for longer life. At the same time, BiX funding enables CQC to lay the foundation in surveys and analysis for new market methodologies and verification and forward sale of stoves co-benefits to carbon emissions reductions, including improved health outcomes from cleaner air, gender benefits for reduced drudgery in firewood gathering, and black carbon reductions.

Emissions Reductions issued for Nigeria CookStoves

CQC is pleased to announce that the CDM Executive Board issued emissions reductions from its Second Verification from its hard won Northern Nigeria project to distribute and construct efficient cookstoves to low income urban and base-of-the-pyramid rural households in Kaduna and Kano States.  This second verification stems from portable metal cookstoves made by Ecozoom, whereas the program has shifted to the rural areas with a new program to install high efficiency mud brick and metal stoves built by artisans in the village communities for women cooks. The first phase of 12,000 stoves is almost complete with 10,000 stoves built as of today.

CQC and Gold Standard Partnered in Innovative Health Credits

CQC is proud to join The Gold Standard in developing the first ever Methodology for verifying improved health outcomes of cleaner cooking: cleaner air through both better cookstoves and improved kitchen ventilation. Innovative Gold Standard Methodology Announced

The metric for improved health outcomes is Averted Disability Adjusted Life Years (ADALYs).  This Methodology’s development was instigated by CQC as part of its pioneering work in creating a forward market for improved health outcomes from clean cooking, working with the World Bank and the leading researchers and service providers in the field of household air pollution, including Professor Kirk Smith, University of California and Berkeley, and the staff and managers of Berkeley Air Monitoring Group, Berkeley, California. The ADALY Methodology should be published at the end of 2016 and be linked to registry functions to allow transparent settlement of contracts for forward sale of ADALYs, with payment on delivery into designated buyer’s registry accounts. Independent high integrity third party verification is a cornerstone of results based financing and market creation for monetizable development impacts and benefits streams.  The next step for C-Quest is to develop and manage the first-of-its-kind health and climate project based on cleaner burning biomass cookstoves, replacing open fires or smoky traditional firewood stoves. Such projects have been designed for Malawi and Laos.



7000 Innovative Stoves Installed in Nigeria, With More on Their Way

CQC's new rural stoves program in Nigeria installing innovative brick and metal rocket stoves reached 7000 stoves of the planned 12,000 first phase. After testing of various distribution business models and capacity building for stove makers and field coordinators, CQC's women-owned and managed partners, SOSAI Renewable Energies, achieved 2500 stove per month installation rate as of June, despite the onset of rains. On the basis of this success, CQC and investment partners BioCarbon Group are reviewing program expansion to 20,500 stoves by the end of 2016.

CQC and Gold Standard Partner in New ADALY Methodology

CQC and the Gold Standard announced today their partnership in designing, funding and managing the development of the new Gold Standard methodology for verification of Averted Disability Adjusted Life Years (ADALYs) from cleaner cooking and cleaner air. ADALYs are effectively additional years of healthy living, in this case for family members having much reduced exposure to toxic pollutants in biomass smoke thrum cleaner burning cookstoves and improved ventilation. The methodology also covers reduced household pollution from cleaner biomass fueled households heating. The partners expect the ADALY Methodology to be published in Q4, 2016, and to be the cornerstone of a new set of pay-for-performance investments in women's and children's health through clean cooking, where investments are made against forward purchase contracts with sovereigns and private foundations and corporations for payment on delivery of ADALYs issued annually from specific projects.

45,000th Rural Stove Constructed in Eastern Zambia

CQC and its conservation and sustainable development NGO partner COMACO are pleased to announce the construction of the 45,000th rural stove in COMACOs service area of Eastern Zambia. The stoves being installed derive from a Total LandCare and CQC design being installed in Malawi. Based on this achievement, CQC has raised funds to expand the COMACO stoves project to 75,000 stoves with an option under its partnership with KfW to add a further 30,000 stoves in 2017.

First-of-its-kind ADALY Credits a Success in Amsterdam with World Bank

CQC's CEO participated as an adviser to the World Bank in a successful donor consultation in Amsterdam convened by the World Bank with the Cardano Foundation and BiX capital. Newcombe presented the investment thesis for the planned first-of-its-kind cookstoves project to be financed by the forward sale of ADALYs from healthier women and children due to reduced households air pollution from replacement of smoky traditional cook fires with forced draft gasifier stoves.

100,000 CERs on their way in Malawi Cookstoves Project

CQC is pleased to announce posting of the Monitoring Report for the second verification of its partnership project with Total LandCare in Malawi, to supply 64,000 stoves to rural households. Expected CER issuance is 100,000 CERs, well on target with investment projections. As of this date, 60,000 stoves had been built and registered under the project co-financed with CQC's investment partner, the BioCarbon Group.