CTRAN bundles solar water heater credits for 2.5 million Euros
The clean development mechanism (CDM) is therefore, a market intervention whereby environmentally friendly projects can trade their reductions with companies which need to reduce but are unable to transform fast enough.
CTRAN, A BASIX group company, has structured a 2.5 million euro deal wherein micro carbon credits obtained from migrating households, hotels and other small units to solar water heaters have been contracted for sale in the global clean development mechanism (CDM) market over the next ten years (November 12, 2010 to November 11, 2020). The project is expected to lead to a saving of 27.87 million units of electric energy and emission reductions of 22,746 metric tonnes carbon di-oxide equivalent per annum.
This amount will go back to the participating entities, adding to their income streams.
In the CDM process, projects are first registered in a central registry which verifies the technologies being used and validates the claim of emission reductions. Once the project is validated, the stream of carbon emission reductions (CERs) can be sold by the parties making the carbon emission reductions, and are purchased by parties which have been identified with a responsibility of reducing emissions. In the Kyoto protocol, the latter companies could postpone moving to more environmentally friendly technologies by buying out carbon credits in the interim.
In the CDM process, projects are first registered in a central registry which verifies the technologies being used and validates the claim of emission reductions. Once the project is validated, the stream of carbon emission reductions (CERs) can be sold by the parties making the carbon emission reductions, and are purchased by parties which have been identified with a responsibility of reducing emissions. In the Kyoto protocol, the latter companies could postpone moving to more environmentally friendly technologies by buying out carbon credits in the interim.
The CDM is therefore, a market intervention whereby environmentally friendly projects can trade their reductions with companies which need to reduce but are unable to transform fast enough.
CTRAN (short for Complete Transformation) is a BASIX group company, based in Bhubaneshwar. 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. CTRAN managing director, 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.”
Working in partnership with Pune-based G K Energy Marketers, CTRAN was able to document the CDM project over a 64,000 sq meter collector area. 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.
Energy Marketers was able to sell the validated future stream of CERs in the vibrant global market. 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.
About the project
The proposed project activity is an aggregation of solar water heater (SWH) installation at household, commercial, institutional and industrial facility to cater the low temperature hot water requirement. The project is based on the principle of utilisation of renewable energy (solar radiation received on the earth surface) to heat up ambient water to suffice the low temperature hot water requirement. Installation of SWH will substitute usage of electrical heaters used/to be used as the baseline options.
The project will result into:
CTRAN (short for Complete Transformation) is a BASIX group company, based in Bhubaneshwar. 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. CTRAN managing director, 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.”
Working in partnership with Pune-based G K Energy Marketers, CTRAN was able to document the CDM project over a 64,000 sq meter collector area. 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.
Energy Marketers was able to sell the validated future stream of CERs in the vibrant global market. 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.
About the project
The proposed project activity is an aggregation of solar water heater (SWH) installation at household, commercial, institutional and industrial facility to cater the low temperature hot water requirement. The project is based on the principle of utilisation of renewable energy (solar radiation received on the earth surface) to heat up ambient water to suffice the low temperature hot water requirement. Installation of SWH will substitute usage of electrical heaters used/to be used as the baseline options.
The project will result into:
- Enhancing penetration of solar water heaters: There are substantial barriers to solar water heater technology that is preventing its penetration or diffusion. Among the most pervasive barriers preventing the diffusion are related to high upfront investment, non supportive public policy framework, weak institution, lack of promotion and technological failure1. The purpose of the project activity is to introduce carbon finance as a vehicle towards providing incentives necessary to enhance the penetration of SWH system.
- Reducing green house gas emission and abate environmental pollution by refraining from the use of electric energy for water heating.
- Electrical energy conservation thereby resulting in conservation of primary energy sources (fossil fuel).
- Enhance the investment environment for solar thermal market.
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