Oglethorpe Power negotiates agreement with Georgia Forestry Commission for reforestation project to create greenhouse gas emission reduction credits
Clients Oglethorpe Power Corporation
On behalf of Oglethorpe Power Corporation (OPC), Jones Day assisted with negotiations for one of the first agreements for the reforestation of a state-owned forest to create the sequestration of carbon dioxide (CO2) for the purposes of creating greenhouse gas (GHG) emission reduction credits. In July, 2009 OPC entered into an agreement with the State of Georgia, Georgia Forestry Commission, to plant trees in a portion of the Dixon State Forest in Ware County, Georgia, which had been destroyed by fire. Among other environmental benefits, the replanting of the trees will cause the sequestration of CO2 in the atmosphere over time, thereby reducing the amount of greenhouse gases in the atmosphere. In exchange for the reforestation OPC will be able to claim any GHG reduction credits that are, or may become, available under carbon/greenhouse gas credit programs.