Broker TP ICAP will acquire New Zealand-based gas, power and carbon brokerage firm Aotearea Energy, to give clients access to the New Zealand emissions trading market, it said on Tuesday.
New Zealand launched an emissions market in 2008, covering sectors such as forestry, agriculture, industrial processes, electricity generators and petrol and diesel suppliers.
ICAP said the acquisition will compliment its own Australian power and gas brokerage and that New Zealand emissions permits are sought after by global investors.
Financial details were not disclosed.
Daniel Skipper, Aotearoa Energy’s founder, will continue to lead the company, which will carry on trading as Aotearoa Energy following completion of the acquisition, TP ICAP said.
Source: Reuters.com