Mr. Rajesh Adani, managing director of Adani Group, is also a key person at the group’s power arum business, Adani Power. Recently, the company received carbon credits for phase III of its 4,620 megawatt power plant in Mundra, Gujarat. The carbon credits is gained under the Clean Development Mechanism of the United Nations Framework Convention on Climate Change.
“The achievement makes the Mundra plant the world’s first coal-fired power project to receive carbon credits” said Mr. Rajesh Adani. The plant is expected to generate about 1.8 million Certified Emission Reductions (CERs) each year.
While the reduced combustion of fossil fuels will help conserve precious natural resources, the carbon credit issuance to the project will also encourage other entities to implement similar projects to reduce their own carbon footprint.
According to Mr. Rajesh Adani, managing director of Adani Power, “The company aims to earn Rs 600 crore by trading these carbon credits during the first 10 years of its operations”. We are confident of expanding our generation capacity to nearly 10,000MW by March 2013.”