EKI Energy to provide carbon credit services to Azerbaijan-based FARI Solutions

New Delhi: EKI Energy Services on Monday said it will provide carbon credit services for clients of Azerbaijan-based FARI Solutions as part of an agreement.

Its responsibilities will include conceptualisation, documentation, verification, issuance, and trading of carbon credits, Indore-based EKI said in a statement.

Carbon credit -- which an entity earns by decarbonising its operations -- is a growing market the world over.

EKI Energy Services announces a collaboration with FARI Solutions, a leader in blockchain research and development operating across North America, Europe, and Eurasia, including Azerbaijan, the statement said.

"EKI will act as a strategic associate for FARI Solutions, managing the entire carbon credit process for its clients in the Azerbaijan region," it said.

FARI Solutions will bring new business opportunities to EKI and assist in supplying the necessary documentation and coordinating with clients, as per the statement.

EKI Energy Services Chairman and Managing Director Manish Dabkara said, "We are excitedly looking forward to this journey with FARI Solutions, leveraging our collective expertise to advance sustainable energy initiatives in Azerbaijan."