NTPC Green Energy has floated a tender for the sale of 100,000 carbon credits of Verified Carbon Standard (VCS)-registered wind and solar projects of 610 MW capacity.

The last date to submit bids is September 12, 2024, and bids will be opened on September 13.

Bidders must offer the lump sum price for the 100,000 carbon credits exclusive of the issuance fee to be paid to VERRA/VCS Board and other applicable charges and taxes. In return, NTPC will sign an Emission Reduction Purchase Agreement (ERPA) with the successful bidder.

The sale of carbon credits is open to all credible domestic companies registered and operating in India. Applicants can purchase the carbon credits generated by VCS-registered projects of NTPC Green at a price discovered during competitive bidding.

Bidders must have experience purchasing and selling carbon credits in the last three years.

They should either have an active account at the VERRA registry to facilitate the transfer of Verified Emission Reductions (VER) or furnish an undertaking for the VERs to be transferred to a third party’s valid VERRA account.

U.S.-based VERRA manages the Verified Carbon Standard Program, one of the most widely used greenhouse gas crediting programs.

The average annual turnover of the bidders in the preceding three financial years should not be less than ₹8 million (~$95,351). The net worth of the bidders should not be less than 100% of their paid-up share capital.

Last November, the Bureau of Energy Efficiency issued the draft Detailed Procedure for Compliance Mechanism under the Carbon Credit Trading Program. Under the new procedure, the Ministry of Environment, Forest and Climate Change was to announce the greenhouse gas emission intensity targets for tons of carbon dioxide equivalent (tCO2e) per unit of equivalent product for each defined trajectory cycle applicable to obligated entities.

In February this year, NTPC Green Energy issued an engineering, procurement, and construction tender for 200 MW of inter-state transmission system-connected solar projects anywhere in India.

In April this year, NTPC Green invited bids for forecasting and scheduling a 130 MW solar project.

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