Financial Daily from THE HINDU group of publications
Wednesday, Jul 06, 2005

Port Info

Group Sites

Industry & Economy - Non-conventional Energy

Wind energy projects — Spinning mills to help in `carbon trading'

G. Gurumurthy

Coimbatore , July 5

THE Dindigul-based Tamil Nadu Spinning Mills Association (TASMA) is planning to create additional revenue stream for wind energy projects owned by its member-mills

For this, it will facilitate the registration for saleable carbon emission reduction (CER) certification or `carbon trading.' The textile body has bundled its member-mills' wind turbine generating (WTG) units into a single project entity to prepare a project design document (PDD) and its validation mandated under the UN's Clean Development Mechanism (CDM).

CDM is the regulatory platform under the United Nations Framework Convention on Climate Change (UNFCCC) for the creation and sale of the CER certificates issued to companies in developing countries through the validation of cleaner energy projects that help reduce emission of greenhouse gases such as carbon dioxide.

TASMA will appoint an environmental consultant to draft the PDD. The PDD will cover aspects such as the baseline for the carbon emissions.

The association, which has short-listed three consultancy firms — Synergy Global, ERM Consultancy and URS Consultatively — is expected to finalise one of them for preparing the PDD within the next few days, according to TASMA sources. Based on the PDD, the validation of the project again by a third party evaluator will be carried out before it is presented to the CDM executive board at Bonn, Germany for the final registration. The issuance of the CER certificates will be possible only after its registration with UNFCCC.

TASMA is likely to have TUV SUD, the German certification body for climate change projects, as the validating agency for the PDD, though the association is yet to complete the commercial terms with the organisation. TASMA has got 89 WTG units of its members for the CER certification programme. Perhaps the first among the textile bodies to propose the CER certification for its wind energy project, TASMA's Managing Committee headed by its President, Mr A. P. Appukutty, plans to get the project registered with UNFCCC by December 2005.

The CER certificates are supposed to have huge resale potential in the emission trading or the carbon trading market in the face of huge emission reduction obligations pending against companies in developed countries to meet the emission levels of 2012. UNFCCC's Kyoto Protocol allows the commercial exchange/transfer of CER certificates to enable firms in developed countries to meet the emission reduction levels through the purchase of certificates from developing economies.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Wind energy projects — Spinning mills to help in `carbon trading'

Cement majors post 10 pc rise in June shipments
India's '03 trade GDP ratio at 30 pc: WTO
Expanding skyline
UK's assumption of EU presidency may benefit India
Smoking scenes in films: Minister for disclaimers before the start
Live workshop on paediatric heart surgery on July 15
Health club inaugurated
NHAI awards Rs 580-cr project to Gammon consortium
Bangladesh invited for India, Myanmar pipeline meeting
Kerala PSUs fare better in 2004-05
Iran's tech pact with Linde clears hiccup in LNG deal
HPCL, BPCL may post losses
Reservoirs in good shape; KSEB upbeat
Govt allows education cess refund for deemed exports
`Bengal VAT system showing salutary effect on prices'
Textile workers top the list of ESI claimants
Yes Bank, SIDBI tie up to offer loans to SMEs
Cabinet panel clears SECL's Rs 2,936-cr expansion plan
Coal India to close 3 NEC mines
SSI plea to revise Nilakkottai food estate land price
Food processing sector starved of investments: Study
AP govt sanctions houses for weavers
`SEZ Act unlikely to come into force before Sept 1' — Ministry in the process of finalising draft rules
Tea talks fail; workers to go on strike
General strike affects normal life in Kerala
Chief income-tax commissioners' meet begins today
Rubber exports may revive as international prices rise
Now, a patent for tsunami
Maditssia expo on traditional medicines
Here comes a tourist submarine
Meet to discuss quality certification for drugs
HMA office-bearers

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line