New Delhi, Oct 3 (IANS): Reliance Power, part of the Anil Ambani-led Reliance Group, Monday said its 3,960 MW Tilaiya ultra mega power project in Jharkhand has got approval for carbon credits from the United Nations Framework Convention on Climate Change (UNFCCC).

The Tilaiya plant will generate 21.3 million carbon credits during the initial ten-year period valued at over Rs.2,000 crore.

"The pit-head based thermal power project has been registered with the Clean Development Mechanism Executive Board (CDM-EB) of UNFCCC and it allows the Tilaiya project to earn certified emission reductions (CERs)," said a statement from Reliance Power.

The CERs can be traded and sold and translates into direct revenues for the power major. The Tilaiya power plant will have six units of 660 MW each and is based in the Hazaribagh district in Jharkhand.

The project would supply power to 18 customers in 10 states and is one of the largest investments undertaken by any private sector entity in India's eastern part.

"This is recognition of the company's commitment to use of clean, green technologies for reducing carbon footprints and sets a benchmark in the country," said Reliance Power chief executive J.P. Chalasani.