Sustainability ONGC Registers One of the World’s Biggest Clean Development Mechanism Projects
ONGC has registered the OTPC Power Project of its ONGC Tripura Power Corporation Limited (OTPC) as a Clean Development Mechanism (CDM) project with the United Nations Framework Convention on Climate Change (UNFCCC), under the Kyoto Protocol.
New Delhi/India – This 726.6 MW gas-based power generation unit of ONGC in Tripura is a fuel-substitution project, which would mitigate over 1.6 million tons of Carbon-dioxide emissions per year for the next 10 years. Fetching 1.6 million carbon credits per year, this is one of the biggest CDM projects in the world.
With this registration, ONGC now has 10 registered CDM projects. Such a double digit portfolio of CDM projects by a single organization is the first in India and a very rare feat even globally. OTPC is being developed by ONGC as a joint venture with the Tripura government. This project is a result of rigorous efforts over the last three and a half years.
Speaking after the registration, a visibly proud CMD, ONGC, Sudhir Vasudeva said, “Our Sustainable Development record is commendable. Our commitment to sustainable development is organically integrated to our exploration and development of energy assets.”