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Chennai-based Numeric Power Systems has received REC accreditation for one of its two 1 MW solar PV plants in Tamil Nadu. This means Numeric will get market trade-able renewable energy certificates for the power this plant generates. The plant, in Coimbatore, is likely to start pumping electricity into the grid next month.
This is the third solar power plant in the country (and the first in Tamil Nadu) to get REC accreditation. The other two are: Jain Irrigation (8.5 MW) in Maharashtra and M&B Switchgear (2 MW) in Madhya Pradesh.
The total solar capacity put under the REC scheme stands at 11.5 MW today. These plants will generate between 18,000 and 20,000 RECs in a full year, says Mr Vishal Pandya, Director, REConnect, a consultancy that helps companies get onto the REC scheme. The ‘solar RECs' will trade between Rs 9,300 and Rs 13,400 – the floor and ceiling prices fixed by the Central Electricity Regulatory Commission.
It is understood that Kanoria Chemicals intends to put its 5-MW plant under the REC.
The solar capacity under REC is but a far cry from the total capacity required if the ‘obligated entities' are to fully meet their purchase obligations. It is estimated that the requirement would be in the upwards of 800 MW.
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