Friday, August 2, 2013

Welspun Energy Ltd - UNFCCC Registers India's First Ever Dual Scale renewable energy PoA (Program of Activities)

The Welspun Renewable Energy Program run by Welspun Energy Limited (WEL) has been registered with the UNFCCC (United Nations Framework Convention on Climate Change) w.e.f. 19th November 2012 as a CDM PoA (Clean Development Mechanism Programme of Activities). This India PoA has the unique distinction of being the first dual scale (which includes both large scale as well as small scale CDM projects) renewable energy PoA in the world. It will allow the addition of an unlimited number of solar and wind energy projects from India over the PoA lifetime of 28 years and thus will contribute to a reduction of significant quantity of CO2 emissions. The registered PoA includes a 25 MW grid connected Solar PV power project that is under implementation at Neemuch, Madhya Pradesh and is expected to avoid emissions of 37,739 metric tonnes of CO2 annually for a period of 21 years into the Earth's atmosphere
Mumbai, Maharashtra, August 1, 2013 /India PRwire/ -- Company makes sustainable effort to reduce green house gas emission.
Welspun Renewable Energy Program registered with UNFCCC
Dual scale POA includes large & small scale CDM projects
Unlimited number of solar & wind projects can be added over 28 years
POA includes WEL's 25 MW solar project in Madhya Pradesh
WEL's 4 registered solar projects reduce 47,022 metric ton CO2 annually
The Welspun Renewable Energy Program run by Welspun Energy Limited (WEL) has been registered with the UNFCCC (United Nations Framework Convention on Climate Change) w.e.f. 19th November 2012 as a CDM PoA (Clean Development Mechanism Programme of Activities).
This India PoA has the unique distinction of being the first dual scale (which includes both large scale as well as small scale CDM projects) renewable energy PoA in the world. It will allow the addition of an unlimited number of solar and wind energy projects from India over the PoA lifetime of 28 years and thus will contribute to a reduction of significant quantity of CO2 emissions. The registered PoA includes a 25 MW grid connected Solar PV power project that is under implementation at Neemuch, Madhya Pradesh and is expected to avoid emissions of 37,739 metric tonnes of CO2 annually for a period of 21 years into the Earth's atmosphere.
The CDM allows emission-reduction projects in developing countries like India to earn CERs (Carbon Emission Reductions) credits, each equivalent to one tonne of CO2. These CERs can be used by industrialized countries to meet a part of their emission reduction targets under the Kyoto Protocol.
A Programme of Activity (PoA) under the CDM makes it possible to register the coordinated implementation of a policy, measure or goal that leads to emission reductions. Registering a PoA compared to the conventional CDM project is a challenging and lengthier process. Hence, it has not yet seen widespread implementation. The registration of the Welspun Renewable Energy PoA is thus a landmark achievement in this regard.
In the near future, POAs could be used as a starting point to scale-up mitigation actions as Nationally Appropriate Mitigation Actions (NAMAs). PoAs also have a strategic significance as the European Union, that has the world's biggest carbon market, had earlier taken a decision that the member countries will not buy CERs from projects originating in developing countries which will get registered post 31st December 2012. This decision is flexible for PoAs subject to registration prior to 31st December 2012.
With a focus on green technologies and triple bottom-line, Welspun Energy Ltd (WEL) is interweaving inclusive growth, social, economic and environmental sustenance in all its' projects to provide sustainable energy for all by year 2030. As a sensitive, responsible corporate giant in renewable energy space, WEL is very keen on the commitment towards sustaining Global Climate Change and Clean Development Initiatives.
Company has already registered its four prestigious projects in Gujarat and Rajasthan under the conventional CDM route with UNFCCC. These projects will reduce a total of 47,022 metric ton CO2 emissions annually. Company is further expecting to reduce an estimated amount of 47,398 metric ton CO2 emissions annually from its 30 MW Solar PV power plant in Gujarat which has already been submitted for registration with UNFCCC.
Mr. Vineet Mittal, Co-Founder and Managing Director of Welspun Energy Limited congratulated all concerned for playing a significant role for the betterment of the Earth by using effective tool like CDM/POA. He explained "In today's scenario, Climate Change is a well recognized global environmental threat and we have to work on it for the survival of our future generations."
As an empanelled member of Ministry of New & Renewable Energy's advisory committee, he expressed his strong concerns for green, clean and sustainable energy, which ultimately helps to reduce green house gas emissions locally and globally.
As a young, dynamic entrepreneur, he said, "Sustainability is the way we do business. We envision lighting up the entire country with clean and sustainable energy and we firmly believe that we will be able to contribute to reduce CO2 emissions through the POA by developing 1.75 GW of wind and solar power projects in the next three years."