Rain CDG

completed

_x000C_The proposed transaction involves providing an IFC Carbon Delivery Guarantee (CDG) for Certified Emissions Reduction Credits (CERs) generated by Rain Calcining Limited (Rain or the company). Rain is based in Vishakhapatnam in Andhra Pradesh, India with an installed CPC capacity of 600,000 tons per annum (tpa). Rain has been an IFC client since the company’s inception in 1993-94. In 2004, IFC financed Rain’s expansion, which involved establishing a new 300,000 tpa kiln and associated facilities, doubling the Company’s CPC capacity. A significant added benefit from this project was that waste heat from the new kiln could be used to eliminate Rain’s dependence on fossil fuel for power generation, leading to CERs. In 2007, Rain's CER project was registered with the Clean Development Mechanism Executive Board with an annual baseline GHG emissions reduction estimated at about 164,000 tonnes of carbon dioxide equivalent.