New Zealand’s Mighty River Power has initiated a tender process for securing long-term carbon credits from local suppliers, a first for carbon trading in New Zealand.

Mighty River Power’s general manager operations Fraser Whineray said that through the tender the firm will be able to meet its carbon obligations under the ETS.

“From 1 July 2010, Mighty River Power is required to off-set any emissions it produces through its electricity generation activities,” Whineray said.

“We believe it makes commercial sense to standardise and accelerate the process for meeting our carbon obligations by putting it to tender.”