Carbon credits push up Godawari Power

DALAL STREET SPIKES

Godawari Power and Ispat rose nearly 10 per cent to Rs 114.75 on volumes of of over 4.2 lakh shares, as it announced that its 10 mw WHRB captive power plant has been registered as a CDM project.

This would make the company entitled for carbon credits under the Kyoto Protocol by the CDM's executive board in Germany.

According to the project design document, Godawari will be entitled to 50,620 CERs a year for the crediting period commencing January 1, 2006, to December 31, 2015. The company is expanding the capacity of sponge iron to 4.95 lakh tonne and captive power generation to 53 mw.