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Denim fabric maker Malwa eligible for 30,000 Carbon Credits

24
Apr '07
Malwa Industries Limited, a vertically integrated textile company, producing denim fabric and garments for the Indian and international markets, is now eligible for more than 32,000 Carbon Credits as per Kyoto Protocol Treaty. This is valid annually for the next 10 years following the registration of its 6 MW Biomass (rice husk) based Power Plant with the United Nations Framework Convention on Climate Changes (UNFCCC).

The Captive Plant at Ludhiana installed under the CDM (Clean Development Project) displaces the power from grid generated through fossil fuel and thus help reducing green house gases. The Plant has commenced generation in the first half of this fiscal and will bring down power costs significantly.

Mr. Tarun Chawla, President (Denim), Malwa Industries Ltd., said, “India is emerging as a serious player in the Global Carbon Credits market and this effort by Malwa Industries Ltd will help clean the environment by reducing emission of carbon and make us more competitive in this regard in relation to our competitors.” He added, “Credits are sellable and would generate revenue to the Company at approximately Euro 12-14 per Carbon Credit.”

The Carbon Credits, as defined by Kyoto Protocol, are one metric tonne of carbon emitted by the burning of fossil fuels. This is measured in terms of the number of megawatts versus emissions from a co-generation power plant and compared with that of a wind plant, which is a zero emission plant.

One credit or Certified Emission Reductions (CERs) is equivalent to one tonne of emission reduced. The Indian Carbon Credits market is estimated at $40-50 million. This has prompted EcoSecurities, originator, developer and trader of Carbon Credits, to set up office in India.


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