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Oregon State University
The Climate Trust has contracted to buy offsets from a cogeneration project being implemented by Oregon State University at its campus in Corvallis, Oregon. The project involves installing a combined heat and power (CHP) plant to provide steam and electricity for the campus. The installation of a 5.5-megawatt combustion turbine generator fired by natural gas, a heat recovery steam generator, and two auxiliary boilers will generate electricity that will meet approximately 50 percent of the electrical load at the university, thereby limiting the use of grid-generated electricity. Offset funding will be provided in two disbursements, the second of which will be delivered to OSU upon delivery of proof of commercial operation of the power facility. How the project reduces emissions The project reduces carbon dioxide emissions by allowing OSU to produce approximately 50 percent of its electricity requirements using modern fuel-efficient cogeneration technology, thereby avoiding the use of grid-based electricity, which is generated at a higher carbon dioxide emissions rate than the natural gas-fired CHP plant. Why carbon finance was needed The Climate Trust used a financial barriers test to assess whether offset funding from The Climate Trust was essential for project implementation. This analysis identified that OSU needed financial support from several outside agencies to proceed with the installation of the CHP plant. Funding from The Climate Trust was matched one for one with bonds from the State of Oregon, generating significant revenue for the project. The offset funding was the key to kick start fundraising efforts for the full $39 million project costs.  top |
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Project type: Cogeneration Standard: Oregon Standard
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