India is to develop its first wind power project under the UN’s Clean Development Mechanism. The 1000MW project is to be developed across several states by EKI Energy Services Ltd, India’s first plc working in energy management.
The CDM was launched as part of the Kyoto protocol to help fund projects in developing nations even if initially they are economically unviable. The hope is once built the schemes generate not only power but revenue in the sale of carbon credits. The scheme was given an extension at last year’s COP 18 until 2020.
Manish Dabkara, Managing Director of EKI said: “This is a multi-phase, multi-entity project with a minimum potential of fetching Euro 20 million revenue annually from the sale of carbon credits after the successful registration with UNFCCC.”
The scheme which will take a year to complete should generate electricity which can either be sold back into India’s grid or traded internationally.