Shree Renuka Sugars sells its Carbon Credits

Shree Renuka Sugars Ltd has announced that the Company has entered into an agreement with a large European utility company for the sale of about 11,500 CERs (Certified Emission Reductions) from their Munoli Project in Karnataka. The sale of the CERs was done through Agrinergy Ltd.

The Munoli Unit was the first Bagasse cogeneration plant in the world to be registered as a clean development mechanism (CDM) project with the United Nations Framework for Climate Change Convention (UNFCCC).

As part of ongoing expansion plans, the Company is raising renewable energy power capacity from 20.5 MW to 103.5 MW.

Agrinergy is a CDM consultancy firm established in the UK with offices in India, Indonesia and Thailand.

Source : Equity Bulls

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