Press Releases and News

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 

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.

CERs to be Issued for Nigeria Cookstoves Project

CQC received notice that CERs from the second verification of its Nigeria Efficient Cookstoves project would be issued on August 24th. The project is an investment partnership with the BioCarbon Group. This is a milestone long awaited given the difficulties CQC and its development partner have experienced with project implementation in the face of serious disruption to business by Boko Haram insurgents throughout the project area, now abating.

Successful Pilot for Sustainable Firewood Project in Malawi

Through its pioneering partnership with Total LandCare of Malawi, and their joint venture Total LandCare Green, CQC is thrilled to note early proof of concept of the shared vision with TLC on sustainable affordable production of firewood by villagers within 50km of the capital of Lilongwe. Sustained delivery of bundled firewood is being supplied at the level of several tons per week to pick up points outside the city and delivered to TLCG depots for distribution in town. The pilot was funded by Irish Aid and has demonstrated that by providing a secure market price and infrastructure that reduced the burden and cost of market access, well-managed village forestry under TLC's guidance can supply Lilongwe and reduce the damage of unsustainable harvest of watersheds and protected forests in the Lilongwe firewood forage zone. The model should be replicable in other African Cities where firewood is still supplied and traded.

First Large Scale, Grid-connected Solar PV on the way in Malawi

CQC is pleased to announce that its partnership with Malawian business interests in Atlas Energies to build the first large scale grid-connected Solar PV achieved major milestones of signed terms sheet for 100MW of Solar PV with a storage option, and allocation for a 45MW solar PV plant near Lilongwe and a signed sovereign support agreement to cover counter-party credit and convertibility risk. Atlas Energies is partnering with ibvogt of Germany as the designer, EPC contractor, and finance arranger for the project.

Sale of First Ever IRecs from Renewables in Developing Countries

CQC announces the sale of the first ever International Renewable Energy Certificates from renewable energy facilities in developing countries. The sale has been brokered by Natural Capital Partners and is from the Ecopower Ishasha small hydropower plant in Uganda, which CQC manages for carbon and environmental attributes. The emerging IRecs market promises to fill some of the gap left through the collapse of the global compliance carbon market.

Malawi News Article Highlights C-Quest Capital's Work

A recent article by The Times Group focuses on a large scale solar power project that C-Quest Capital is a major participant in, along with Malawi-based company Atlas Energies Ltd. and German-based company ibv vogt GmbH. CQC is the arranger for this transaction for Atlas as well as an Atlas shareholder. 60MW are planned by end 2016. This project is significant for Malawi as demand for power is at an all time high.

Malawi’s First IPP and Solar Power Plant

Atlas Energies of Malawi, a project development partnership including CQC, has signed a binding MoU with ib voigt GmbH, the leading German solar power developer, to proceed with the design and construction of 40 MWp of solar PV generation capacity in Malawi, subject to an agreement with the Government on terms of a long-term power purchase agreement. Atlas is in the final stages of negotiating this PPA.  

CQC Assisting with the Development of ADALYs Methodology

CQC and The Gold Standard have agreed to collaborate in the preparation of an ADALY Methodology to support the independent verification function required for clean Cookstoves projects financed under a payment for performance development finance framework. Preparation of this Methodology is an important companion activity to the launch of a series of clean stoves/clean air investments now in the planning stage.