Tata Power Co.’s wind farm in western India has become the company’s first project to win eligibility from the United Nations to earn carbon credits.
The 50-megawatt wind power project at Khandke in Maharashtra state has been registered with the UN Clean Development Mechanism, the utility said in a statement today. The CDM is the world’s largest carbon market after the European Union program.
The project is expected to earn 85,000 Certified Emission Reductions annually, it said. If awarded, the credits would be valued at 1 million euros ($1.27 million), based on the benchmark price of 11.82 euros a metric ton of carbon dioxide on the European Climate Exchange in London as of 9:17 a.m. CERs are up 0.9 percent today and 7.7 percent this year.
