KFW bank to sign agreement with Orissa for carbon credit trading

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Bhubaneswar, Oct 22 (UNI) The KFW Bank, Germany, will sign an emission reduction purchase agreement with the state-owned Orissa Renewable Energy Development Agency (OREDA) for carbon credit trading, OREDA Chief Executive Ajit Bharthuar said here today.

Talking to newspersons on the sidelines of an international seminar on ''Renewable Energy in Climate Change Mitigation'' here, Mr Bharthuar said a MoU in this regard was signed with the bank last month.

As per the agreement as many as 10,000 biogas plant owners of the state will be eligible to get the benefit of carbon credit trading.

He said though there were around two lakh biogas plants in the state, only the plants which came up after 2005, following the signing of the Kyoto protocol, would be eligible to get the benefit.

Under the agreement a biogas plant owner with a plant size of two cubic metres would get Rs 1,000 per annum for generating clean gas and reducing the green house effect, Mr Bharthuar said.

OREDA would receive the fund and transfer the benefit to the beneficiaries, he said.

UNI BD DPM/src1701

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