Godawari Power signs agreement for Sale of Certified Emission Reductions

Godawari Power & Ispat Ltd has announced that the Company has entered into an agreement with M/s. Carbon Asset Services, Sweden AB, Stockholm, for sale of 65,205 Units of Carbon Emission Reductions issued pursuant to Article 12 of the Kyoto Protocol ("CER") which is the total number of CERs generated from Waste Heat based 7MW Captive Power Project ("the Project") till December 31, 2005 net of CERs from the Project deducted by the Clean Development Mechanism Registry Administrator in accordance with the Kyoto Protocol to cover administrative expenses and to assist in meeting costs of adaptation. The delivery of CERs is expected to be completed within a month’s time.

The Certified Emmission Reductions (CER) to be generated from January, 2006 onwards from the above project and two other power plants having capacity of 35 MW which are under registration process are not covered under the aforesaid agreement.

Source : Equity Bulls

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