MoP Releases Draft Scheme for Carbon Credit Trading in India, Himachal Pradesh Plans to Become India’s First Green State by 2025, ,And Much More...

The Ministry of Power - India has released a draft titled “Carbon Credit Trading Scheme” for public feedback.The objective of the draft is to establish a framework for the Indian carbon market. Comments on the draft scheme can be submitted to the government until April 14, 2023.The scheme outlines that an ‘Accredited Carbon Verifier’ is an agency accredited by the BEE to carry out validation or verification activities in relation to the CCTS. Carbon credit trading aims to reduce #carbonemissions and address climate change.

A new funding is set to spur India’s #renewableenergy capacity and help improve access to climate finance, with IFC - International Finance Corporation (IFC) investing INR 3,750 million (about $50 million) in a sustainability-linked bond (SLB) issued by Tata Capital Ltd - Cleantech Finance . This is the first such instrument issued by a private financial institution in India and will support the country’s shift to a #cleanenergy economy.The company will work towards scaling up on-lending towards #renewable energy projects and diversifying into #energyefficiency and #emobility sectors over the next three years.

State-run power company SJVN LIMITED has secured #greenfinancing worth JPY 15 Bn (approximately INR 915 Cr) from the Japan Bank for International Cooperation (JBIC) to finance its 90 MW Omkareshwar Floating Solar Power Project in Madhya Pradesh and 100 MW Raghanesda Solar Power Project in Gujarat.?The two projects being financed are scheduled to commission in 2023 and are estimated to produce around 450 MU of electricity in their first year of operation.

Indian Renewable Energy Development Agency Limited Development Agency Ltd. (IREDA) achieved a significant milestone by crossing the highest annual loan disbursement of Rs. 16,071 crores (loan disbursement in FY 2021-22) in the history of the company for the Financial Year 2022-23. The company exceeded the historical mark and touched loan disbursement of Rs. 16,320 crores.The company has been actively contributing to India’s transition towards a sustainable and clean energy future

The government of Himachal Pradesh has signed a memorandum of understanding with HLC Green Energy to make the state the “First Green State” in India by 2025. The project will attract an investment of over Rs 4,000 crore and create direct and indirect employment opportunities for about 2,500 people. The initiative is expected to lead to the creation of skilled labor in the state.