CTRAN Consulting Pvt. Ltd. is a part of the INR 5000 million BASIX Group, a premier corporate house held in high regard in the field of micro-credit and livelihood promotion in India. The group has had over a decade of operation in over 10 states in India with over 2,500 employees.
CTRAN, is dedicated to provide sustainable solution to its clients in the areas of energy, environment, climate change, CDM and inclusive infrastructure for local livelihoods. It offers consultancy services in the energy and environment sector, climate change consultancy services. It is a pioneer in rural infrastructure consultancy and livelihood enhancement, with services covering farm sector, non-farm sector, human development (agriculture, livelihood improvement, health and sanitation, education) entrepreneurship development and improvement.
With BASIX’ clients moving from traditional methods of heating water and cooking to solar water heaters, CTRAN was able to aggregate the savings on carbon emissions over the 15,000 end-users in Maharashtra, Gujarat and Karnataka.
While the carbon credit entitlements per individual unit were puny and not of marketable size, CTRAN was able to bundle the whole acreage into one CDM project and get it registered with the United Nations Framework convention on climate change (UNFCC) as a Clean Development Mechanism (CDM) project.
According to this report, CTRAN managing director, Mr. Ashok Singha, said: “The aggregation of CERs is challenging task, but it is the central panacea for deepening of the carbon credit market in India. Identifying projects and getting to the CDM market stage requires enterprise and innovative partnership. C-Tran has about 30 to 40 such deals across sectors.”
The project registered as a CDM project, and validated for carbon emission reductions of 22,746 metric tonnes CO2 equivalent per annum with a savings of 27.87 million unit of electric energy. The carbon emission reductions will be credited annually over a period of ten years (November 12, 2010 to November 11, 2020).
The CER accruals sold in CDM market for approx. 2.5 million Euros (at current prices) and the total collector area was spread over three states: Maharashtra (25,200 sq mts collector area), Gujarat (17,500 sq. mts.) and Karnataka (21,200 sq. mts.).
According to the project validation documents, “the total area calculates to an energy equivalent of 44.7 MW thermal based on the rated thermal output of the manufacturer.” This translates into Certified Emission Reduction (CER) of 22,746 metric tonnes CO2 equivalent per annum, according to the project.
The credits have been purchased by RWE Power Aktiengesellschaft of Germany, which is one of Europe’s five leading gas and energy companies. The proceeds will flow back to the participating households, thus adding to their income streams.
Panchabuta views this as a great development that will help in promoting carbon finance as a vehicle towards providing incentives necessary to enhance the penetration of such off grid solar and other renewable energy projects.