SJVN Ltd, a state-owned power producer, has collaborated with carbon credits developer EKI Energy Services to facilitate the registration, issuance, and trading of international renewable energy certificates (I-RECs) for its 1,500 MW Nathpa Jhakri hydro power project in Himachal Pradesh. SJVN emphasized that an I-REC represents the production of 1 MWh (1,000 units) of electricity from renewable energy sources, as stated in a regulatory filing.
The partnership involves the issuance of a letter of award to EKI Energy Services for the registration, issuance, and purchase/trading of I-RECs for the Nathpa Jhakri Hydroelectric Power Station. I-RECs can originate from various renewable energy sources such as wind, solar, ocean energy, biomass, hydropower, landfill gas, aerothermal, geothermal, and landfill gas projects. This initiative is expected to have a significant positive impact on the environment, leading to a reduction in carbon emissions.
SJVN’s Nathpa Jhakri hydro power project has been registered in the IREC registry mechanism for the period spanning January 1, 2023, to December 31, 2027. SJVN anticipates generating an annual revenue of around Rs 10 crore from the sale of I-RECs. SJVN Ltd operates under the administrative control of the Union Ministry of Power and is a joint venture between the central government and the government of Himachal Pradesh.
Source: SJVN Ltd
– I-REC: International Renewable Energy Certificates measure the amount of electricity generated from renewable sources, with 1 I-REC representing 1 MWh (1,000 units) of renewable electricity.
– Renewable energy sources: Energy sources that are naturally replenished, such as wind, solar, hydropower, biomass, and geothermal energy.
– Carbon emissions: The release of carbon dioxide and other greenhouse gases into the atmosphere, contributing to climate change.
– SJVN Ltd.