EcoSecurities, AmruthaKrishna ink pact

EcoSecurities Group plc, one of the world's leading originators of carbon credit projects, and the Secunderabad-based Amruthakrishna Power Generation Ltd, a power solutions and industrial consultancy provider, have signed a purchase agreement to buy Certified Emission Reductions (CERs) from four different biomass power projects (generation capacity ranging between 6-15 MW) across Andhra Pradesh.

EcoSecurities will provide Amruthakrishna Power Generation with greenhouse gas mitigation services. Both the companies have agreed to work together closely in order to develop further carbon reduction projects, particularly in the field of biomass.

"In a country where there are over one billion people and over 70 per cent of the population depends on agriculture, there is an ever increasing need to dispose of biomass generated waste in an environmentally positive fashion. Working with Amruthakrishna Power will provide both the companies with a significant opportunity to help a wide range of organisations across India benefit from the development of Clean Development Mechanism (CDM) projects," Pedro Moura Costa, COO of EcoSecurities, stated in a press release here on Monday.