Indian Energy wins governmental approval for Theni wind project in India

Source: Indian Energy

Indian Energy (AIM: IEL), the independent power producer that owns and operates wind farms in India, has received Host Country Approval by the Government of India for its 16.5 MW project at Theni under the Clean Development Mechanism (CDM) of the Kyoto Protocol.

Obtaining Host Country Approval is an important step in registering the project as a CDM project under the United Nations Framework Convention for Climate Change and for the project to earn Carbon Emission Reduction certificates ("CERs").

The Theni Project is estimated to generate between 40,300 and 44,350 CERs per annum upon approval by the Executive Board of the United Nations Framework Convention for Climate Change.

Indian Energy has several alternatives for the sale of the CERs when registered. Based on the current market price, the Theni Project CERs could generate up to an additional GBP 435,000 of revenue per annum.

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