Monday, June 4, 2012

Trading of solar renewable energy certificates commences in India

The two power trading exchanges Indian Energy Exchange (IEX) and Power Exchange India (PXIL) commenced trading of solar renewable energy certificates (RECs) today, thus opening a new source of revenue generation for solar power producers apart from third party sale of power through open access.

The trading of RECs makes it easy for several obligated entities that may be required to purchase a certain quantum in either green power or RECs.

M and B Switchgears, which has become the first solar power producer in India to be issued 249 solar RECs by the National Load Dispatch Centre in New Delhi, expects to generate an additional revenue from RECs. These certificates are tradable on the power exchanges and are purchased by "obligated entities" which are either specified consumers or electricity distribution companies (under RPO - renewable purchase obligation).

The Electricity Act 2003 in India mandates the state commissioning to specify a percentage of the total consumption of electricity in the area of distribution licensee, for purchase of electricity from renewable sources - renewable purchase obligation (RPO).

According to Vikalp Mundra, director, M and B Switchgears: "The company is expected to generate close to 3,200 RECs in 2012-13. The project will be generating approximately 32 lakh units of electricity per annum and saving carbon emission equivalent to 3,360 tonnes annually. For M and B Switchgears, the trading of RECs is expected to cause additional revenue of approximately Rs 4 crore."

The company is currently planning to set up a 20 MW solar power project under the REC scheme.

The REC mechanism has been promoted by the Ministry of new and renewable energy in order to encourage non-conventional energy sources.

Source: Times of India

3 comments:

  1. hi. nice and informative. blog. will be looking up for more updates.
    for more info on efficient solar panels and devices please visit
    solar canada

    ReplyDelete
  2. LEDs are categorized in different types like miniature, mid range and high power according to their different sizes present in the market. These LEDs are considered to be the best source of light emission as these have a low wear and tear as compared to the other light emitting sources present in the market. LEDs when developed by Holonyak were developed to provide a simple and inexpensive way for computers to convey the information and then it was used in the portable calculators but now these LEDs are used from the coffee making machines to the 290 ft tall Reuters billboard in Times Square. Today these LEDs provide us an unmatched high quality and experience of TV watching by the LED televisions that are available in the market.
    hydro electric
    hydro electric power
    what is hydro electric
    inventhistory
    power generator
    wind power generator
    solar and power
    electric transportation

    ReplyDelete
  3. There's a chance you're qualified for a new solar energy rebate program.
    Click here to find out if you qualify now!

    ReplyDelete