Comments
The Power and New & Renewable Energy Minister RK Singh has cleared the amendments to the existing Renewable Energy Certificate (REC) mechanism to align with the emerging changes and also to promote new renewable technologies.
The changes proposed in the revamped REC mechanism will be implemented by the Central Electricity Regulatory Commission through a regulatory process.
As per the release, the Power Ministry had circulated a discussion paper on redesigning the Renewable Energy Certificate (REC) Mechanism for comments of stakeholders in the power sector on June 4, 2021.
Also read: Solar open access installations in India up with 628 MW added in 1H 2021: Mercom
The salient features of changes proposed in revamped REC mechanism include perpetual validity of REC, till it is sold, removal of floor and forbearance prices and CERC will monitor to ensure that there is no hoarding of RECs.
Besides this, the renewable energy generators who are eligible for REC, will be eligible for issuance of RECs for the period of power purchase agreement as per the prevailing guidelines. The existingprojects that are eligible will continue to get RECs for 25 years.
In addition, a technology multiplier can be introduced for promotion of new and high priced RE technologies, which can be allocated in various baskets specific to technologies depending on maturity. RECs can be issued to obligated entities including Discoms and open access consumers which purchase renewable energy beyond their RPO compliance notified by the Centre.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.