Formalised through its subsidiary Acciona Wind Energy (P) Ltd., the finance agreement shows the confidence of the financial markets in Acciona’s ability to carry out renewables projects.
The project convers the Anabaru 16.5 MW and Arasinagundi 13.2 MW windparks located in the State of Karnataka in southern India both wholly owned by the company. The facilities represent a total investment of EUR29.6 million and entered service in 2008.
Both windparks were registered by the United Nations as a joint project under the Clean Development Mechanism (CDM) system contained in the Kyoto Protocol. Their renewable production over the ten years stipulated in the agreement will avoid 884,200 metric tons of CO2 being emitted by conventional power stations in Karnataka to produce the same volume of electricity. Acciona thus obtains Emission Reduction Certificates (ERCs), which it can then trade on the emissions allowances market.
