The investments will be used for expansion of about 200MW of megawatts of Shalivahana’s existing biomass power projects in the Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, and Tamil Nadu states of India.
Through its Post-2012 Carbon Facility, IFC will purchase up to 1.5 million certified emission reductions (CER) from the energy projects developed by Shalivahana during 2013 to 2020.
IFC will pay for a pre-agreed percentage of the spot price of the CER at the time of delivery, subject to a minimum price.
IFC South Asia director Thomas Davenport said that the Post-2012 carbon facility will provide the Shalivahana Group with a high-quality revenue stream from CERs up to 2020 to strengthen the viability of their projects
