Business Daily from THE HINDU group of publications
Saturday, Nov 10, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Saturday, Nov 10, 2007 ePaper | Mobile/PDA Version |
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Corporate
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Environment Rain Calcining may get carbon delivery guarantee from IFC Our Bureau Hyderabad, Nov. 9 Rain Calcining Ltd is likely to get International Finance Corporation’s Carbon Delivery Guarantee (CDG) for its Certified Emissions Reduction Credits. CDG is a credit enhancement product wherein IFC will guarantee delivery of carbon credits from quality projects in developing countries to buyers in developed countries. IFC will thus be able to help projects get a much higher value for their credits, while eliminating the risk of under delivery of carbon credits, says the IFC Web site. Rain Calcining, with an installed CPC capacity of 6,00,000 tonnes per annum (tpa), has been an IFC client since the company’s inception in 1993-94. In 2004, IFC, an arm of the World Bank financed Rain’s expansion, which involved establishing a new 300,000 tpa kiln and associated facilities, doubling the company’s CPC capacity. A significant added benefit from this project was that waste heat from the new kiln could be used to eliminate Rain’s dependence on fossil fuel for power generation. In 2007, Rain’s CER project was registered with the Clean Development Mechanism Executive Board with an annual baseline GHG emissions (greenhouse gas) reduction estimated at about 1,64,000 tonnes of carbon dioxide equivalent. More Stories on : Environment
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