The Hindu : Business : EcoSecurities' pact with two T.N cos.

Online edition of India's National Newspaper
Tuesday, Nov 28, 2006
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EcoSecurities' pact with two T.N cos.

Staff Correspondent

To sell carbon credits

CHENNAI : EcoSecurities, a company that is into originating and commercialising of clean development mechanism (CDM) projects and trading of carbon credits, has tied up with Empee Sugars and Shriram EPC for its power projects in Tamil Nadu.

It already has six registered projects generating revenues of over Rs.40 crore, according to Pranav Nahar, Country Director, EcoSecurities.

Addressing a press conference here on Monday, Mr. Nahar said that through these projects, ExoSecurities was trying to expand CDM awareness in the small and medium enterprises (SME) sector in Tamil Nadu. The aim was to increase the registered projects by 50 per cent in the State.

He said EcoSecurities provided comprehensive carbon finance solutions to the companies for its projects.

Mr. Nahar said there had been a number of high volume schemes that had emerged as an outcome of China's fast paced industrialisation and were available for buyers at lower rates.

Mr. Nahar said EcoSecurities was planning to enter into an agreement with Tamil Nadu Spinning Mills Association to get CDM registration for its 1,000 MW power project.

The company was willing to take over the power project and get the registration done. This would generate the company nearly eight-lakh carbon credits, he added.

About the Shriram EPC Ltd., projects, N. Ramkumar, General Manager (Marketing), said the company would felicitate small and medium scale companies to set up windmills in Tamil Nadu.

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