Malwa Industries earns 30,000 carbon credits for clean energy

Mumbai, Apr 19 (UNI) Punjab's Ludhiana-based textile company Malwa Industries has earned more than 32,000 carbon credits for generating clean energy from its captive power plant.

The company, producing denim fabric and garments for the Indian and international markets, became eligible for the carbon credits as per Kyoto Protocol Treaty when it recently operationalised a 6 megawatt power plant based on rice husk. The carbon credits would be valid annually for the next 10 years following registration of the biomass-based power plant with the United Nations Framework Convention on Climate Changes (UNFCCC), a company release said today.

The energy plant, set up under the clean development project, displaces fossil fuel-produced power and thus help in reducing green house gases.

Company president (denim) Tarun Chawla said India is emerging as a serious player in the global carbon credits market and their effort will help clean environment by reducing emission of carbon and also make the company more competitive. "Credits are sellable and would generate revenue to the company at about Euro 12-14 per carbon credit," he added.

The carbon credits, as defined by Kyoto Protocol, are one metric tonne of carbon emitted by the burning of fossil fuels. Therefore, one credit or certified emission reductions (CERs) is equivalent to one tonne of emission reduced. 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.

UNI