The Hindu Business Line : 107 clean development projects get Ministry nod

WITH the Environment Ministry having given the host country approval to 107 clean development mechanism (CDM) projects, the Government said that these could attract revenues worth $2.6 billion.

Each CER stands for one tonne of carbon dioxide reduction and can be traded globally.

A total of Rs 7,816 crore has gone into these projects that could potentially generate 132 million CERs.

The 107 projects approved have "facilitated an investment of Rs 7,816 crore" into the CDM projects.

With the present going rate per CER of more than $20, the additional revenues on account of the CERs will exceed $2.6 billion, said an official release.

The National Clean Development Mechanism Authority (CDM) has cleared ten projects recently with the total number of host-country approved CDM projects reaching 107. These projects include 62 related to renewable energy, including biomass-based cogeneration projects, 28 in energy efficiency, eight in industrial processes, six in fuel switching and three in the field of municipal solid wastes.

Regarding the value of each CER, the Ministry of Environment & Forests (MoEF) Secretary, Dr Prodipto Ghosh, said, "The present CER rate was obtained from the World Bank officials."

To obtain certified emission reductions (CERs) for projects, companies owning these projects are required to first get a host country approval from the National CDM Authority, Environment Ministry.

The projects then have to be validated, registered, monitored and verified at the United Nations Framework Convention on Climate Change (UNFCCC).

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