Madhya Pradesh Power Management Company (MPPMCL) has issued an expression of interest (EoI) inviting bids from consultants for validation, registration, verification, issuance, and trading of eligible carbon credits from rooftop solar projects in Madhya Pradesh.

Bidders must notify MPPMCL officials of global prevailing carbon credit programs, accounting standards, and various related products. Bidders must provide the envisaged commercial gains to MPPMCL from proceeds on carbon credits and propose the best suitable carbon credit program as per their assessment of market conditions and MPPMCL’s key requirements.

Only consultants with prior experience in executing carbon credit projects are eligible to participate in this bid. Bidders must have a minimum of one national government, international government, or private company work experience of successfully trading carbon credits

The last day to submit the bids is April 4, 2022.

Based on the response received, discussion sessions will be organized for bidders to present their proposals. After understanding the prevailing carbon credit programs, accounting standards, and tentative commercial gain to MPPMCL, a separate tender will be issued for appointing a consultant.

The main objective of the MPPMCL through this tender is to avail the benefit on account of carbon credits from the installed rooftop solar projects under the net metering and gross metering by various DISCOMs in the state. The tender intends to provide an opportunity to all potential agencies, consultants, and traders to showcase business cases related to carbon credits in the state of Madhya Pradesh and to provide details of their services offered on the desired scope.

As per the recently released Mercom India Rooftop Solar Market Report Q4 and Annual 2021, Madhya Pradesh had installed 400 MW of rooftop solar capacity by the end of 2021.

State-owned Satluj Jal Vidyut Nigam Ltd (SJVN) had recently concluded the tender for creating carbon credits from its hydropower project, which was won the joint venture (JV) of Creduce Technologies and Hydel Construction. The project intends to create more than 80 million carbon credits from SJVN’s vintage project. Looking at the current international carbon market prices, the project is poised to fetch ~$100 million in revenue for SJVN.

In February, NTPC had invited bids for the appointment of consultants for the third verification of verified carbon standard (VCS) registered solar and wind power projects from October 1, 2020, to December 31, 2021.

According to Mercom’s India Solar Tender Tracker, 2.5 GW of consultancy tenders have been floated by various agencies in Madhya Pradesh.