EKI Energy Services Ltd signs consultancy service contract for carbon credits project of Kochi Metro Rail Project

EKI Energy Services Ltd. (EKI), a leading developer and supplier of carbon credits across the globe, today announced that it has signed consultancy service contract with Kochi Metro Rail Limited (KMRL), a Joint Venture Company of the Government of India and the Government of Kerala. The contract has been signed against a tender won by EKI for providing carbon credit advisory services to KMRL.

Under the contract, EKI will ensure development and assistance for Validation, Registration, Verification, Issuance and Trading of carbon credits projects of Kochi Metro Rail Project.

As part of the contract, EKI will ensure end-to-end management of projects eligible for carbon credits including its verification in compliance with the guidelines followed by International Carbon Credit Mechanisms. With the help of EKI, Kochi Metro Rail Ltd. will also be able to monetize emission reductions and earn additional revenue which it can use to support its multiple developmental initiatives.

Mr. Manish Dabkara, Chairman & MD, EKI Energy Services Ltd. said, "We are excited about our partnership with Kochi Metro Rail Ltd. and would like to thank KMRL for selecting us as their preferred partner. This win will enhance our leadership in Government sector projects as an expert in climate change solutions both nationally as well as globally. All of us at EKI are committed to continue offering our strategic solutions for mitigation and emission reduction while helping clients enable a strong climate action and earn additional revenue."

Mr. Loknath Behera, Managing Director, Kochi Metro Rail Limited said,' I am personally happy that atleast we have formally started our carbon crediting activities in association with EKI. It will not only help us in earning additional revenue but also give the optics to KMRL as a responsible sustainable transport provider.'

The tie-up will benefit EKI by strengthening its network of customers globally. EKI will develop high quality carbon credits from the modal shift transportation project, and help KMRL earn additional revenue by monetizing the carbon credits in the international carbon market.

Shares of EKI Energy Services Ltd was last trading in BSE at Rs. 592.25 as compared to the previous close of Rs. 615.60. The total number of shares traded during the day was 62079 in over 3717 trades.

The stock hit an intraday high of Rs. 614.00 and intraday low of 590.00. The net turnover during the day was Rs. 36967668.00.

Source : Equity Bulls

Keywords

EKIEnergyServices INE0CPR01018 ConsultingServices OrderWin Contract KochiMetroRail CarbonCredits