State-owned power producer SJVN Ltd has entered into an agreement with carbon credits developer EKI Energy Services to facilitate the registration, issuance, and trading of international renewable energy certificates (I-RECs) for its 1,500 MW Nathpa Jhakri hydro power project located in Himachal Pradesh.
I-RECs represent a verification that one megawatt-hour (MWh) of electricity has been generated from renewable energy sources. SJVN issued a formal letter of award to EKI Energy Services for the handling of I-RECs related to the Nathpa Jhakri Hydroelectric Power Station (NJHPS).
These I-RECs can originate from various renewable energy sources, including – wind, solar, ocean energy, biomass, hydropower, landfill gas, aerothermal, geothermal, and more. This endeavor is expected to have a notable positive impact on the environment by contributing to a reduction in carbon emissions.
SJVN’s NJHPS has been officially registered in the IREC registry mechanism, covering the period from January 1, 2023, to December 31, 2027, as disclosed in the regulatory filing.
The company anticipates an annual revenue of approximately Rs 10 crore from the I-RECs. As a government-backed entity under the administrative purview of the Union Ministry of Power, SJVN Ltd operates as a joint venture between the central government and the government of Himachal Pradesh.
This move underscores SJVN’s commitment to promoting clean and renewable energy generation, aligning with global efforts to mitigate the environmental impact of traditional power generation.
