SJVN ropes in carbon credits developer EKI Energy for issuance of I-REC

State-owned power producer SJVN Ltd has roped in carbon credits developer EKI Energy Services for registration, issuance and trading of international renewable energy certificates for its 1,500 MW Nathpa Jhakri hydro power project in Himachal Pradesh.

An international renewable energy certificate (I-REC) means one MWh (1,000 units) of electricity was produced from renewable energy sources, SJVN said in a regulatory filing.

"SJVN has issued a letter of award to EKI Energy Services for registration, issuance and purchase/trading of I-RECs for 1,500 MW NJHPS (Nathpa Jhakri Hydroelectric Power Station)," the filing said.

I-RECs can originate from wind, solar, ocean energy, biomass, hydropower, landfill gas, aerothermal, geothermal, and landfill gas projects. This will have significant impact on the environment as it will lead to reduction in carbon emissions.

SJVN's NJHPS has been registered in IREC registry mechanism for January 1, 2023 to December 31, 2027, the filing said.

SJVN expects the total annual revenue per annum Rs 10 crore from I-RECs.

Under the administrative control of the Union Ministry of Power, SJVN Ltd is a joint venture of the central government and the government of Himachal Pradesh.