Nature-based solutions firm Green Earth (Euronext Amsterdam: EARTH) has signed a long-term agreement to sell carbon credits from a conservation project in western Uganda, securing $4.8 million in contracted future sales and potentially lifting the deal’s value to $16.3 million.
The Dutch-based developer said Tuesday an unnamed international energy company has committed to buying 262,400 verified carbon credits from the Bulindi Agroforestry and Chimpanzee Conservation Project between 2027 and 2031.
The contract also includes an option to purchase up to 566,400 additional credits through 2035.
Deal Adds Predictable Demand For Uganda Project
The Bulindi project is registered under the Gold Standard framework and focuses on agroforestry, ecosystem restoration, biodiversity protection and community development. The project also aims to restore and protect habitat for chimpanzees in western Uganda.
The agreement uses a payment-on-delivery structure. The buyer will pay only after credits have been independently verified, issued and delivered, rather than providing upfront financing. The first deliveries are expected in 2027.
If the buyer exercises all of its options, the deal’s total potential value would reach approximately $16.3 million, including a $141,600 premium already paid for the additional purchase rights.
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“This agreement takes Green Earth’s total sales pipeline to more than €50 million [nearly $57 million],” Chief Executive Selwyn Duijvestijn said.
Namely, it adds $4.8 million, or 10%, to the company’s existing order book, which stood at €41.5 million (nearly $48 million), including prepaid and payment-on-delivery contracts, at the end of June.
The Uganda deal follows a similar long-term agreement for Green Earth’s Mount Kenya Regenerative Agroforestry Project, covering more than 1.5 million projected carbon credits with an indicative value of about €35 million (more than $40 million).
