Shillong, Sep 26: The Meghalaya State Electricity Board (MeSEB) has signed a carbon credit agreement for its environment-friendly power project with the UTI Securities Ltd, Mumbai and the Asia Carbon Emission Management India Pvt Limited, Chennai.
MeSEB member (Finance) D P Wahlang said as per the MoU, the MeSEB, would receive Rs 8.2 crore every year.
The Myntdu Leshka project was selected under the carbon credit agreement as the MeSEB had taken up the task of maintaining clean environment despite the presence of acidic water bodies in certain areas of Jaintia Hills.
UTI Securities vice-president Dharmesh Ojha said in the context of global warming, carbon credit agreement would encourage companies to adhere to environment-friedly norms.
Carbon credit is given as a sort of bonus or award to various industrial units and companies which do not pollute the environment through emission of carbon monoxide.
The nodal agency, which processes the carbon credit agreement, is the United Nations Framework Convention for Climatic change (UNFCCC).