SJVN hydel power arm earns €2.77 mn as carbon credits
For the consolidated baseline methodology for grid-connected electricity generation from renewable sources, the project in Himachal Pradesh had been registered by the World Bank (International Bank for Reconstruction and Development ) as the Trustee for the Umbrella Carbon Fund Tranche2. The information was shared by Head of the Power Station Suresh Thakur, in an exclusive interview.
Carbon, he said, had become a tradable commodity and one ton of carbon dioxide reduced through eco friendly project, when certified by a designated authority, becomes a tradable Emission Reduction (ER) or a carbon credit. It has thus emerged as a globally tradable commodity, he said.
Clean Development Mechanism (CDM) he told, had been outlined in KYOTO Protocol for mitigation of climate change in the world whereby countries not meeting the emission standards can buy carbon credits from other countries fulfilling the norms to fulfill their emission reduction targets. For earning the credits, a project has to undergo rigorous process documentation and approval as specified under the CDM modalities and procedures, Thakur said.
Hydro energy generated by a project reduces a fraction of carbon emission from a equivalent capacity thermal power station, he clarified. A CDM registered project therefore has to undergo various steps right from its inception for issuance of the CERs, he added.
Construction of the power station, he told, had been taken up in the year 2008 to be operated in Tandem with the upstream 1500 mw Nathpa Jhakri Hydro Power Station of the company. This was a unique and the only project in the country being operated in Tandem technology whereby eliminating the needs of Dam, Desilting Chambers and Intake structure, he informed.
With the adoption of this technology not only large scale construction activities involving inundation of land, displacement of people, and loss to the ecology has been saved, but it has also resulted in cost savings to the tune of approximately Rs.300 crore as well as time involved in construction of these project components, he said.
All the six turbine units of the power station, he told, had been commissioned progressively between May to December 2014 and the carbon credits earned were for partial operations only.