The company said the 1GW wind plan is part of "the first of its kind multi-country and multi-methodology programme of activities in the world". Specifically, it is the world's first project announced under the United Nation's new Programme of Activities (POA) Umbrella under the Kyoto Protocol's extended Clean Development Mechanism (CDM).
There will be a series of 1000MW of renewable energy projects under the POA umbrella, said Manish Dabkara, Managing Director of EnKing International (EKI Energy Services Ltd). "This is a multi-phase, multi-entity project with a minimum potential of fetching Euro 20 million revenue annually from the sale of carbon credits after the successful registration with UNFCCC under the CDM (Kyoto Protocol)."
Anand Kumar Pandey, the company's President of Business Development added: "As per today's scenario, any project of this kind takes about one year to complete but this POA umbrella will reduce the validation and verification cost and time by more than 40%." To meet the funding requirements of the project, the company is soon announcing its IPO with a listing at Bombay Stock Exchange, he said.