ONGC registers one of world’s biggest Clean Development Mechanism projects
Dated : 14 May 2013 10:14:33 PM
Maharatna 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. 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 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 ONGC CMD Mr. 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”.
CDM is one of the flexible market mechanisms under the Kyoto Protocol, according to which an industrialised country (with a Green House Gas [GHG] reduction target under the Protocol) can invest in a project in a developing country (without a target under the Protocol) and claim credit for the emission reductions that the project achieves. The reduction in GHG emission achieved through a registered project is quantified as Certified Emission Reduction (CER), commonly known as Carbon Credits, which is a tradable commodity at exchanges.
The last nine (9) CDM projects of ONGC which were registered with UNFCCC are detailed in the table below:
|CDM Project Name||Date of Registration||CER per annum||Verification and Issuance|
|Waste heat recovery from Process Gas Compressors (PGCs), Mumbai high south (offshore platform) and using the recovered heat to heat process heating oil||28 Feb'07||5320||15163 (2 issuance), 3rd verification over, issuance awaited|
|Up-gradation of Gas Turbine 1 (GT 1) and Gas Turbine 2 (GT 2) at co-generation plant of Hazira Gas Processing Complex||1 Mar'07||7802||6771 (1 issuance), 2nd verification over, issuance awaited|
|Flare gas recovery project at Uran plant||17 Dec'07||97740||1st verification completed, issuance expected later|
|Flare gas recovery project at Hazira Gas Processing Complex||16 May'08||8793||1st verification underway.|
|Energy Efficiency of Amine Circulation Pumps at Hazira plant||22 Sep'09||4043||1st verification over, issuance awaited|
|51 MW wind power project at Bhuj, Gujarat||01.03.2010||85762||121207 (1 issuance), 2nd verification over, issuance awaited|
|Green Building at Mumbai||02.01.2013||576|
|GFR, Neelam & Heera||25.04.2013||65811|
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