News Brief | October 2012
Adani sees Rs 600 cr earnings from carbon credits
Adani Power has received carbon credits by the phase III of its 4,620 MW power plant in Mundra in Gujarat. Under the Clean Development Mechanism of the United Nations Framework Convention on Climate Change, the company has received the carbon credits. Adani said the achievement makes the Mundra plant the world's first coal-fired power project to receive carbon credits. The company aims to earn Rs 600 crore by trading these carbon credits during the first 10 years of its operations, it said. The plant is expected to generate about 1.8 million Certified Emission Reductions (CERs) each year. Rajesh Adani, Managing Director of Adani Power said that while the reduced combustion of fossil fuels will help conserve precious natural resources, the carbon credit issuance to the company's project will also encourage other entities to implement similar projects to reduce their own carbon footprint.