According to reports, Emergent Ventures India (EVI) has registered its solar programme of activity (PoA)-National Solar Power Development Programme, India (NSPDP)-with the United Nations Framework Convention on Climate Change (UNFCCC). With this registration, new grid connected solar power projects can be added to this PoA without the risk of not registering before December 2012, which marks the end of the first commitment period of the Kyoto Protocol.
Clean Development Mechanism (CDM) provides a promising area, where additional revenues can be harnessed for renewable energy projects to increase their viability. However, the main hurdles faced by the small scale project developers, especially those developing solar power projects are high costs and long time for registration in the CDM process.
Moreover, the credits from standalone projects registering after December 2012 will be not be eligible to trade in EU ETS which is currently the largest market of carbon credits. To overcome these hurdles particularly faced by small scale projects, EVI has registered this CDM PoA,” EVI said.
A solar power project added to this PoA can be registered in a much shorter span and at a reduced cost. It is expected that the registration time will be reduced to about 40% of what it takes to register a standalone CDM project. Typical cost is also expected to be less than 60% of that of a standalone CDM project.
The company is now fully geared to extend this PoA facility to solar power project developers,” EVI added.
EVI, which was founded in 1999, started its climate business in 2004. It provides consulting and implementation services to around 350 clients in carbon, sustainability and renewables domain across the world.