Reliance Power said its 3,960 MW Tilaiya ultra mega power project in Jharkhand has got approval for carbon credits from the United Nations Framework Convention on Climate Change (UNFCCC).Reliance Power's Tilaiya UMPP would earn Rs 2,000 crore by trading carbon credits during the first 10 years of its operations, the company said.
The Clean Development Mechanism Executive Board (CDM-EB) of UNFCCC allows the Tilaiya project to be commissioned during the 12th Five-Year Plan period, starting next year – to earn Certified Emission Reductions (CERs).
The CERs can be traded and sold and translate into direct revenues for companies such as Reliance Power.
The Tilaiya UMPP will genÂerate 21.3 million carbon credits during the initial 10 years and they are valued at over
Rs 2,000 crore, according to the company.