The development objectives of the Punjab High Voltage Distribution System Carbon Offset Project for India are to: reduce global emissions of carbon dioxide; an increase the efficiency, reliability, and quality of electricity supply in the local distribution system of Punjab State Electricity Board (PSEB). This carbon offset project consists of the purchase of ERs generated by reduction in technical and commercial losses achieved by PSPCL through implementation of High Voltage Distribution System (HVDS) for agricultural consumers. PSPCL is implementing this program with loan assistance from Rural Electrification Corporation (REC). The funds generated from the sale of emission reduction credits to the World Bank managed Carbon funds shall assist PSPCL in the implementation of this large scale technical loss program. They will provide the financial incentive necessary to ensure full-scale implementation of this large technical loss reduction program.