Construction Industry News
Indore Smart City Development Ltd (ISCDL) would no longer be able to earn carbon credits through solar power projects under the Verified Carbon Standard (VCS) program as solar projects are excluded from registration under the program as they become self-sufficient . maintained over a certain period of time.
This has forced ISCDL officials to drop their plan to register solar power plants operating in the city under the VCS program – a global program and standard for certification and registration of projects aimed at reducing and removing of greenhouse gases, including carbon dioxide.
Officials said solar projects cannot be listed under the VCS program. “People can start making a profit from a solar power plant after a certain period of time by selling electricity produced by the plant and this makes the project 'self-sufficient'. Therefore, it has been excluded from the list of projects that can be registered by the VCS board,” said an official.
ISCDL chief executive Rishav Gupta said they had already registered some of the solar power plants under the program long before this change was introduced, and it will continue to help them generate revenue.
“We have already registered about 10 projects under the program and have generated Rs 90 million so far,” said Gupta, adding that efforts are underway to identify other projects that can be listed under the program.
There are about 3,700 solar power plants, including individual ones, operational in Indore.
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