CASE STUDY

Carbon Credits Help Transform Mumbai Landfill into Profitable Green Space


Find out how carbon credit financing helped turn a dump site in Mumbai, India into a green landscape.

Overview

From a dump site to a beautiful green space: Asian Development Bank's Asia Pacific Carbon Fund helped transform Mumbai's Gorai garbage site into an award-winning sustainable area.

Project information


Project snapshot

  • 2007: Launch of the Gorai Landfill Closure and Gas Capture Project
  • 2009: Inauguration of the great green 19 hectare park
  • 2010: Completion of project construction
  • 2030: Estimated project end of operations
  • Rs503 million ($9.31 million): Total project cost
  • Rs245 million (56%): Carbon financing
  • Implementing agency
    • Municipal Corporation of Greater Mumbai: Principal implementor
    • Infrastructure Leasing & Financial Services: Technical adviser

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Meet the experts

  • Nishant Bhardwaj    
    Senior Program Manager, Institute for Sustainable Communities

    Nishant Bhardwaj serves as senior program manager of the Institute for Sustainable Communities (ISC) managing ISC’s work on the USAID Low Emissions Asian Development (LEAD) Program. Bhardwaj has over 16 years of professional experience in development finance, specializing in energy infrastructure and carbon finance. He is based in New Delhi.

    Prior to joining ISC, Bhardwaj spent 7 years with the Asian Development Bank in Manila, where he managed the Asia Pacific Carbon Fund, a $152 million fund invested in 70 clean development mechanism projects. The fund was highly successful, supporting over 1800 MW clean energy projects in 11 countries in Asia. Previously, Bhardwaj was with IT Power Group and Development Alternatives. During his association with these organizations, he implemented and managed several significant energy and climate change policy assignments for private sector and international agencies including the World Bank, European Commission, United Nations Development Programme, Department of International Development, and the Foreign and Commonwealth Office UK.

    Bhardwaj has a Master of Technology in Energy Engineering from the Indian Institute of Technology, Delhi and his Master of Science in Environmental Sciences.

  • Daisy Inocentes    
    Clean Development Mechanism Market Analyst, Asian Development Bank

    Daisy Inocentes was CDM (clean development mechanism) market analyst for ADB's Asia Pacific Carbon Fund for 5 years. She was involved in the development, negotiation, and administration of transactions involving clean development mechanism , climate change mitigation and renewable energy projects; project monitoring and reporting; due diligence review, project analysis; risk identification and mitigation; and project monitoring.

    She served as the focal person coordinating among project sponsors, investors, and other departments within ADB and the UNFCCC.

   India, Energy, Environment
   Last updated: August 2016

 




Disclaimer

The views expressed in these articles are those of the authors and do not necessarily reflect the views of the Asian Development Bank, its management, its Board of Directors, or its members.




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