China Long Yuan Power signed an agreement with Électricité de France, under which the French group will buy carbon credits for 9m tons of carbon dioxide equivalent.
The credits will be purchased from Longyuan's wind power operations, which have an installed capacity of 945MW.
Under the Kyoto Protocol's Clean Development Mechanism (CDM), clean energy projects in the developing world are permitted to sell credits to companies in developed countries, enabling the latter to meet their Kyoto commitments to reduce greenhouse gases.
A total of 62 CDM projects have been registered in China after the mechanism was launched in the country in 2005. They are expected to reduce emissions by the equivalent of 400m tons of carbon dioxide, and earn $2.5bn should they all win approval from the United Nations Development Program, according to figures from China's National Development and Reform Commission.
See this story for more on CDM.
Separately, Denmark's Vestas, the world's biggest manufacturer of wind turbines, has received two orders for 100MW of wind power from China Long Yuan Electric Power.
The two orders, each for 25 of its 2MW turbines, covers the supply of complete turbines including towers as well as commissioning, the control system and a two-year maintenance and service agreement, according to a company statement (pdf).
Delivery of the turbines will begin in the first half of 2008, and the project will be located in Chifeng in Inner Mongolia. The project is expected completed by the end of 2008.
According to the Danish company, the wind turbines will be delivered from its Chinese manufacturing facility in Tianjin, where arch-rival Gamesa of Spain, also has a turbine manufacturing facility.