India CDM pipeline June report

In June, 375,357 CERs (approx US$6.5m) were issued to projects in India which came from 14 projects. This compares to $26m worth of CERs issued globally in the same period.

As per the UNEP RISOE's global monthly report, momentum in CDM is picking up with 130 new CDM projects entering the pipeline in June: the highest monthly number since October 2008. Indian projects in that list continue to be large in number but much smaller in size: leading to a lower potential of CERs.

India's 375,357 CERs in June came from 14 projects. This compares with 1.49 million CERs issued globally in the same period for 34 projects. For June, this translates into 45K CERs per project as a global average compared to 26K CERs per project from India. (The trailing 18 month global CERs per project is 72K and for India the same number is 44K).

Part of the reason in the drop of the issuance rate of CERs from India is that the HFC projects have come under greater scrutiny. While this was being seen as simply greater vigilance, there now is a new calculation guidance issued that could result in India losing half of its credits valid till 2012. (Further information at: UNFCCC revision request, UNFCCC methodology panel note, Reuters)

Outlined below is a summary of the Indian CDM activity for the month of June. For additional in-depth data, the feeds can be accessed in the Data Monitor section.

Data for June

The four stages at which data has been captured form the continuum in the CDM process. The first two stages are leading indicators, and the last two provide information on credits that have been issued (or likely to be issued).

Leading Indicator 1: Submitted for Prior Consideration
A total of 155 projects were submitted for prior consideration of the CDM in February. Of these 66 were from India (or 43% of the global total).

Trend of CDM projects submitted from India for prior consideration:

42.66% of the projects in June from India:

Leading Indicator 2: Those Requesting Registration are Smaller Projects
Most of the projects requesting registration from India continue to be smaller energy projects. A representative sample from the last month are listed in the table below.

Projects Registered

5 CDM projects were registered in India last month with a potential of generating 218,983 CERs annually. This compares to a total of 35 globally which have a potential of generating 2.8 million CERs annually. This continues to follow from the leading indicators where the projects from India tending to be smaller in size.

Count of projects registered withthe UNFCCC:

CERs expected from the projects registered in June:

Projects registered from India in June 2010

CER Issuance

A total of 375,357 CERs (approx value of US$ 6.5m based on the spot prices) were issued over the last month in India. The projects from which these came are listed below.