Bhutan Dam Gets UN Certification for Emissions Cuts, ADB Says
April 12 (Bloomberg) -- A hydropower dam in Bhutan has been registered as the first cross-border project in a United Nations program to encourage developing nations to invest in reducing carbon emissions, the Asian Development Bank said.
The $200 million Dagachhu hydropower project, funded with loans from the Asian Development Bank, Japan and Austria, is expected to reduce carbon dioxide emissions by about 500,000 tons a year by exporting power to India, the bank said in a statement on its Web site today.
The 114 megawatt project, in Bhutan’s Dagana Dzongkhag district, is managed by state-run Druk Green Power Corporation and Tata Power Co., India’s largest non-state electricity generator, and will be commissioned in 2012, according to documents filed to the UN.
Dagachhu is the first cross-border project registered under the UN’s Clean Development Mechanism, in which developing countries earn tradable credits for projects that reduce greenhouse gas emissions blamed for climate change, the ADB said.