The Ugar Sugar Works Limited has established a 16 MW Bagasse based cogeneration project in addition to the earlier 28 MW Bagasse based cogeneration project. Since, this project is considered as a green power project, the company has applied and received the registration from UNFCCC, Bonn, Germany in March,2006.

The company has signed an ERPA with M/s. Carbon Assets Services, Sweden for sale of the Carbon Credits about 60,000 CER’s (Carbon Emission Reductions) per annum. The company has already received INR 390 lacs against sale of carbon credits. This has helped to increase profitability of the company.

The company is also putting up another two green field projects with 2500 TCD Sugar and 15 MW Bagasse based Cogeneration plants. The company is expecting to complete these projects by March, 2007. The company is in process of submitting the application to UNFCCC to get the registration as a CDM project. From these 2 plants, about 60,000 CER’s generation are expected which will be additional revenue source.