The Jammu and Kashmir State Power Development Corporation (JKSPDC) today said the 450 MW Baglihar Hydro-Electric Project was not eligible for seeking carbon credits under the Kyoto Protocol signed by India as the project was started much before the Protocol came into place.
According to an official statement, the spokesman of the corporation said the question of sale of carbon credits from the Baglihar Hydro-Electric Project does not arise and no decision on price at which carbon credits could be sold has been taken, as the JKSPDC does not own any carbon credits, the spokesman said.
The spokesman was reacting to a news report that appeared in a section of media about the alleged scrapping of MoU over Baglihar carbon credit share.
The spokesman said the perceived loss to State Exchequer was misconceived, adding that the Board of JKSPDC had not referred such operational matters to the state Cabinet.
As per Kyoto Protocol on climate change, which came into effect in February 2005, there is a time period up to 2012 for seeking carbon credits.
