The Government has picked 15 winners in its first tender of subsidies for projects which reduce emissions of greenhouse gases.
The subsidies are payable in Kyoto Protocol "carbon credits" - tradeable rights to emit greenhouse gases.
A total of 46 bids were received for the 4 million credits on offer.
Thesuccessful bids include wind farms, hydro-electric schemes, industrial heat plants and projects for generating electricity from geothermal steam and landfill gas.
The identities of the successful bidders will remain under wraps until the agreements are signed.
The first are expected within the next few weeks.
Climate Change Minister Pete Hodgson said they included large and small organisations in the private and public sectors.
Priority was given to projects that would also make electricity supply more secure in the next few years, or which sought fewer credits than they expected to save the country in emission reductions.
Applicants were assessed by a panel and the final decision was made by Environment Ministry chief executive Barry Carbon.
Contradictory statements by Russian officials last week have fuelled doubts Russia will ratify the protocol. If it does not it will not come into force and the agreements in New Zealand's tender process will lapse.
