Climate Change Investment II, a fund managed by First Climate, will invest Rs500 million ($10.7 million) in Suryachakra Power Corporation’s renewable projects, which include biomass, solar thermal, wind and hydro.

The CDM projects are expected to generate 300,000 CERs a year initially, although this figure could rise to 500,000.

Some 20 per cent of the projects are already operational, while another 30 per cent will be commissioned in early 2010, First Climate said in a statement.

The remaining 50 per cent will be commissioned by 2012, which means credits will be generated for use before and after this year, a spokesman said.


Source: PointCarbon CDM & JI Monitor, Vol. 6, Issue 26, December 23, 2009