EFS Consultants commit to register all new Renewable Energy Plants in India with the United Nations Framework Convention on Climate Change (UNFCCC)

Mumbai December 1, 2012:
EFS Consultants Pvt. Ltd has committed to register the total of its 106 MW renewable energy plants under construction spread over 8 locations across India with the United Nations Framework Convention on Climate Change (UNFCCC).

The registration will allow the company to trade the certified emission reductions (CERs) and will increase the earnings derived from renewable energy projects.                                        .

Closely following developments in the aftermath of the Renewable Energy Expo in Greater Noida in November 2012 we found that EFS is a small but noteworthy forerunner for this in India as it is setting precedence. The company hopes to set an example for other more powerful companies to follow their example. “The recent government’s decision on not scraping GAAR (General Anti Avoidance Regulations) and its potential retrospective application has left some investors weary to invest into long term projects such as the power sector in India. The CDM registration will give us some edge and also be an added secured income for investors. We hope that the big boys of the Indian Power Sector will follow suit”, says Anand Salman, a spokesperson for the company.

The company’s latest project is in the Punjab is due to take up operation at the end of 2013.

“Our investors are environment conscious, it is no longer sufficient to make good returns for investors, we must add long term benefits to the community, prevent pollution as well as making a good return to investors”, says Julie Kenny a Portfolio Director at EFS. Ratan Tata agrees with her and added, “ with Tata Power we plan to add 150-200 MW of wind power and 50 MW of solar power capacity every year.”

Tata Power’s Mithapur project is one of the largest of its kind in the country and has crossed 43,000 MWh of generation since its commissioning in January 2012.

POWER PURCHASE PACT

Tata Power, through its 100 per cent subsidiary, Tata Power Renewable Energy Ltd, has signed a Power Purchase Agreement (PPA) for the project with Gujarat Urja Vikas Nigam Ltd.

Ashish Gupta