TRADING IN RENEWABLE ENERGY CERTIFICATES (REC'S)
To enable Indian states fulfill their mandatory Renewable Purchase Obligations (RPOs), a new platform for promoting and incentivizing Renewable Energy Projects in India was conceived and launched by the Central Electricity Regulator of India, viz. Central Electricity Regulatory Commission (CERC).
Using this platform, Renewable Energy Certificates (REC's), were the prime vehicle being traded within India, through approved Power Exchanges.
The WWCPL team is well-placed to cater to requirements, under this revolutionary mechanism.
HIGHLIGHTS OF THE REC MECHANISM INCLUDE:
- The REC Equation - here total revenue from generation of RE based power, is equal to revenue from the sale of electricity at par with conventional sources of electricity, (whether by sale to host DISCOM at a price not exceeding the Average Power Procurement Cost or at a mutually determined price in case of sale by Open Access Route) + Environmental Attributes in the form of REC.
- RECs are a tradable commodity and are traded in CERC approved Power Exchanges.
- RECs are traded within the forbearance and the floor price. The forbearance and floor prices are determined by the CERC in consultation with the Central Agency and Forum of Regulators (FOR) from time to time.