In order to achieve this status IQE has invested in a carbon offset Hydro Power Project in Uttarakhand, India, which has been verified to Verified Carbon Standard (VCS).
This 4.95 MW Hydro Power Plant converts the potential energy available in the stream flowing from higher altitudes into mechanical energy using hydro turbines and then to electrical energy using alternators. The project provides and sells electricity to the state electricity utility UPCL (Uttarakhand Power Corporation Limited) through the grid, reducing dependence on fossil fuels and thereby reducing CO2 emissions.
Earlier this year IQE took part in a local tree planting initiative to reduce the Company's carbon footprint, with Directors and staff planting 76 Manx native trees in Glen Rushen. Please click here to view the News Article.
Anne Couper Woods, Executive Director of IQE, said "We are extremely pleased to be continuing our work with Carbon Footprint for CO2e assessment and offsetting our carbon emissions through VCS credits. This year we have chosen to invest into a Hydro Power Project in Uttarakhand, India. This most recent investment demonstrates our continued support for clean and renewable energy offset projects. In addition we have also carried out our inaugural local tree planting initiative which IQE will look to develop over the coming years."
For further information on the work of Carbon Footprint, please follow link http://www.carbonfootprint.com/.
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On a recent transaction we worked closely with IQE to set up and run a corporate structure to facilitate a new residential development in London. We found the IQE team responsive and proactive. It was clear that their property experience added value and understanding of the clients’ requirements on the project. Christine Jackson, Partner, Real Estate Group, Lawrence Graham LLP