This article from GreenBiz.com cites that in Copenhagen the “Clean Development Mechanism Executive Board (CDM EB) which oversees, among other things, renewable energy projects in the developing world under the Kyoto Protocol, made a recent decision that metaphorically chopped the top off a number of Chinese windmills.” The article reads:

As with the story of ‘The Little Mermaid,’ it had previously been assumed that renewable energy projects were popular. The issue at stake is tariffs. The EB suspects, but admits it has no evidence either way, that wind tariffs may have been set at a level that relied on the CDM to make them profitable. The Global Wind Energy Council, which are highly regarded as experts in this area, has submitted a report to the EB outlining why the EBs suspicions are, in their opinion, without foundation but this report seems to have had no apparent effect. The CDM EB rejected the applications from the Chinese wind farms so they won’t receive carbon credits. It seems like quite an odd decision as one of the points of the CDM is to make unprofitable projects profitable. Indeed it’s a requirement, otherwise projects can’t be registered. (Emphasis Added)

Without any clarification of the decision, it appears the CDM EB has created a disincentive for investment in renewable energy projects in the developing world.