Dhumal lays stone of 36 MW hydro project
May 14th, 2011 - 9:32 pm ICT by IANSShimla, May 14 (IANS) Himachal Pradesh Chief Minister Prem Kumar Dhumal Saturday laid the foundation stone of a private hydropower project in Chamba district.
The 36 MW hydel project at Chanju in Churah subdivision is being executed by IA Energy and Goel Group of Industries.
Dhumal said the state would earn carbon credits for eco-friendly power generation and the government would soon sign an agreement for this with the World Bank.
Carbon credits provide a way to reduce greenhouse gas emissions by giving them a monetary value. A credit gives the owner the right to emit one tonne of carbon dioxide. Credits can be exchanged between businesses or bought and sold in the international market at the current market price.
IA Energy managing director Suresh Goel said the project would be constructed at an outlay of Rs.295 crore.
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Tags: carbon credits, carbon dioxide, chief minister, current market, foundation stone, greenhouse gas emissions, hydro project, hydropower project, managing director, monetary value, mw, outlay, power generation, shimla, tonne, world bank