Tata Power can now trade carbon credits earned from Guj plant
New Delhi: Tata Power Thursday said its 25 MW solar project in Gujarat has been registered under the United Nations Clean Development Mechanism, a move that would allow the company to trade carbon credits from the plant.
"This allows the company to trade Certified Emission Reductions (CERs) it would earn from the renewable energy project," Tata Power said in a statement.
It is the company's second project, after the 50.4MW Khandke wind farm in Maharashtra, to get registered under the Clean Development Mechanism (CDM).
An instrument established under the Kyoto Protocol for achieving sustainable development, CDM will enable developing countries to attract investments in clean energy technology, the statement said.
The Mithapur plant would help in reducing an annual average of 37,696 tons of carbon dioxide, by producing 39,597 MWh per year (average) equivalent amount of clean energy.
Tata Power Managing Director Anil Sardana said the company would continue pursuing avenues to add clean and renewable energy generation capacities.
"We plan to add 150-200 MW of wind and 50 MW of solar power capacity every year," he added.
The country's largest private power producer. Tata Power, has an installed generation capacity of about 7,700 MW.