In May of 2024, Microsoft signed a 15 year offtake agreement with project developer Ponterra for approximately 1.6 million carbon credits from a reforestation project in Panama.
A few notes on the offtake:
- Project developer: Ponterra
- Project type: afforestation/reforestation via Verra VM0047 and SD VISta; restoring degraded tropical forest in Panama’s Azuero Peninsula
- Project land size: 10,000 hectares; 6 million trees
- CO2 removals volume: 3.24M tons over 30 years; Microsoft will purchase roughly half
- Offtake length: 30 years
- Due diligence timeline: 8 months
- Upfront investment from: Rubicon Carbon and Carbon Streaming
Read my full deep dive into the deal on Trellis, here:
https://trellis.net/article/inside-microsofts-panama-tropical-forest-carbon-offtake-deal/