Adani eyes Rs 600 crore from carbon credits
By ENS Economic Bureau - NEW DELHI
11th September 2012 10:10 AM
Adani Power expects to earn as much as Rs 600 crore from trading of carbon credits from two of its 4,620 MW Mundra project units in Gujarat.
Also Mundra plant’ s phase III becomes the world’s first coal fired thermal project to receive carbon credits from the United Nations Framework Convention on Climate Change (UNFCCC), it said
Adani’s Mundra Phase III has three units of 660 MW each and has received carbon credits under the clean development mechanism.
The company said it expects to generate about 1.8 million Certified Emission Reductions each year.
The company, part of diversified Adani Group is expected to earn Rs 600 crore by trading these carbon credits during the first ten years of its operations.
“While the reduced combustion of fossil fuels will help conserve precious natural resources the carbon credit issuance to our project will also encourage other entities to implement similar projects to reduce their own carbon footprint,” Adani Power Managing Director Rajesh Adani said.
- South block watch
- UPA-II anniversary: No honest appraisal
- Woolwich attack provokes anti-Muslim backlash across UK
- Bangladesh allows transit for foodgrains for Northeast India
- Increasing friction between the Chandy and Chennithala factions
- 'Data shows gambling rampant in India'
- Madrasi heart for Pakistani Madrassa teacher
- Somayagam returns after 48 years