Olkola Aboriginal Corporation x ECP - 3-year ACCU savanna burning offtake (Cape York, Australia)

Terms

Announced

22 Oct 2022

Instrument

Debt

Amount

UndisclosedReported as not disclosed (~200,000 tCO2e over 3 years)

Source

envcp.com

Parties

Project developer

Olkola Aboriginal Corporation

Country

Australia (Cape York, Queensland)

Capital providers

Capital providers and the amount counted for each

Party	Role	Amount	Basis
Environmental Commodity Partners	Undisclosed	Undisclosed	No value disclosed

Carbon

Pathway

Savanna fire management

Backed by offtakes from

• Environmental Commodities Partners

What happened

COUNTERPARTY: Environmental Commodity Partners LP (ECP) - multi-select 'Bought by / Lent by' left blank because ECP is not yet an option in that field; add the option and tag this row when convenient. Three-year ACCU offtake sales agreement between ECP and the Olkola Aboriginal Corporation, covering the majority of credits produced by the Olkola Ajin - Olkola Fire Project, an Indigenous savanna burning project on Olkola Traditional lands in Central Cape York, Queensland. The project has potential to reduce ~200,000 tonnes CO2e over three years. Natural Carbon supported the Olkola Aboriginal Corporation in the negotiation. ECP's first Australian transaction. Announced 10/22 Oct 2022. Structure: forward offtake of ACCUs. Not debt, and NOT confirmed as prepaid - whether capital was advanced ahead of delivery is not disclosed, so this may be a purchase commitment rather than a prepay. No price, volume commitment, tenor, floor price or revenue-share terms disclosed. Sources: https://naturalcarbon.com.au/2022/10/10/australian-indigenous-savanna-burning-carbon-credits-purchased-by-global-institutional-investor/ ; https://www.envcp.com/article/ecp_enters_3-year_deal_purchasing_australian_indigenous_savanna_burning_carbon_credits

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