Transaction

Base Carbon - India ARR (Uttar Pradesh)

Terms

Announced: 8 Aug 2023
Instrument: Debt · StreamingCapital advanced now against a share of the credits the project delivers later.
Amount: US$13.6mReported as ~US$13.6m committed ($2.6m on execution, $7.4m by Q1 2024)
Source: globenewswire.com

Project developer: VNV
Country: India (Uttar Pradesh)
Capital providers: Capital providers and the amount counted for each
Party Role Amount Basis
Base Carbon Investor US$13.6m Sole provider: the whole transaction

Capital providers and the amount counted for each
Party	Role	Amount	Basis
Base Carbon	Investor	US$13.6m	Sole provider: the whole transaction

Pathway: ARR (afforestation, reforestation, revegetation)
Project type as recorded: Reforestation of degraded smallholder farmland in Uttar Pradesh with VNV; 6.5M native/naturalised trees, transitioning to Verra VM0047
Backed by offtakes from: Base Carbon Capital Partners Corp.

: Base Carbon and VNV partnership for reforestation of degraded farmlands in Uttar Pradesh, India. 6.5M native/naturalized trees planted on smallholder lands. ~1.2M removal credits expected over 20-year project life. First issuance expected H1 2027. Transitioning to Verra VM0047 methodology. Expansion option for additional 20M trees. Submitted to Verra for validation Q2 2025.

: Base Carbon advances project capital and is repaid in carbon credits rather than cash. Base Carbon calls it a prepayment for credits in its own releases, and books it as an investment in carbon credit projects that converts to credit inventory on delivery. Committed in tranches, with the schedule amended in December 2025 and extended to 2027.

Tell us what is missing or wrong, and where you read it.

Capital Connections

Kumo introduces assessed projects to capital providers whose mandate fits, whichever side you are on.

Free to explore. No card required.

Terminal

Pricing, structures and comparables across Kumo's carbon finance dataset.