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Thursday, 26 June 2014

REC - Renewable Energy Certificate

REC & How it works?

  • Renewable Energy Certificate (REC) mechanism is a market based instrument to promote renewable energy and facilitate compliance of Renewable purchase obligations (RPO)
  • Places an obligation on electricity supply companies to produce/consume a specified fraction of their electricity consumption from renewable energy sources
  • REC mechanism is aimed at addressing the mismatch between availability of RE resources in state and the requirement of the obligated entities to meet the renewable purchase obligation (RPO)
  • Solar RECs are issued to eligible entities for generation of electricity based on solar as renewable energy source.
  • REC would be exchanged only in the CERC approved power exchanges IEX and PXIL
  • Floor Price varies between Rs 9.30 to Rs. 13.40 per unit

Scope of REC & RPOs

RPO Status: - FY 2007 - 08
StateRPO TargetRPO Met
Maharashtra4%3%
Gujarat2%2%
Karnataka10%11.5%
Tamil Nadu10%11%
Punjab1%0.74%
Haryana4%0%
Madhya Pradesh10%0.07%
There is a Huge scope for REC trading in coming years

REC Price on IEX Power Exchange

1 comment:

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