OPEN ACCESS - REConnect Energy · Telangana Solar Power Policy 2015 GERC RPO Regulation Applicable...
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OPEN ACCESS
June 2015
Volume - 52
Wind Facilitator of the Year & REC Facilitator of the Year 2014
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From Management‘s Desk
Our main article this month analyses in detail the proposed 5th amendment to REC regulation and its impact on Captive and Open Access consumers. If enacted, the result of this amendment would be to reduce the supply of REC’s drastically, and will have significant im-pact on the economics of open access projects and of new captive projects.
Notable regulatory updates and tariff orders in June were –Telangana Solar Policy which provides about various incentives and benefits available under the policy and Gujarat making RPO regula-tion applicable for Captive and Open Access consumers. Apart from this new Wind energy tariff finalized by Rajasthan commission, Har-yana and Gujarat proposed solar tariff, and MPERC proposed its open access Regulation were the other important developments in the regulatory front.
REC trading saw moderate volumes relative to May 2015. Overall clearing ratios stood little above 1% for both solar and non-solar. The broad trend is of increasing trading volumes as most obligated entities make efforts to meet compliance requirements.
This is a result of the SC order earlier, and going forward also of the GERC order making RPO applicable in CPP and OA consumers.
We hope you will find this volume an insightful read, and as always, look forward to your feedback.
- Team REConnect CO
NT
EN
T
Analysis of 5th Amend-
ment to REC Regulation
Regulatory Updates
REC Trade Results
REC Project Stats
Green News
RPO Map
About REConnect
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Analysis of 5th Amendment to REC Regulations proposed by CERC
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
www.reconnectenergy.com Page 1
38%
REC Market
Share
PAN
India
Presence
2.2 GW
Projects under
management
Managing REC
Projects in
16
States
Background:
Recently, CERC proposed the 5th amendment to REC
regulations. The gist of proposed changes is:
Captive generators and portion of power for self-
consumption will no longer be eligible for REC’s.
If an open access (OA) project avails concessional
wheeling, banking or cross-subsidy benefits, it will
not be eligible for REC’s.
These changes have been proposed in the context of an
REC market that faces significant oversupply. As on June
30 2015, RECs worth 2,650 crore remain unsold, and
clearing percentages in many months are well below
5%. In most months, more RECs have been issued than
redeemed, further aggravating the problem of over-
supply.
In the explanatory memorandum, CERC has elaborated
on the thinking behind the proposed amendment. The
memo states:
“Lack of RPO enforcement has been one of the
major reasons for the high level of unsold REC
inventory. However, it is also important to an-alyze the supply side aspects and understand
whether the right beneficiaries (as was envis-
aged while introducing REC framework) are
participating and able to compete in the REC
market. It remains a fact that a major portion of
the REC inventory is contributed by the CGPs.
Also, developers under third party model are
able to leverage the concessional benefits while
participating under REC framework.” (Emphasis
added)
and,
“Around 51% of the projects under the CGP
route were commissioned before the first notify
cation (14 January 2010) of the REC Regulation.
These projects must have computed their financial
viability without the REC benefit.”
The proposed changes will have far-reaching implications
on the REC market structure. As per data provided in the
Explanatory Memo approximately 41% of the capacity
(under captive generation) will be completely excluded from
RECs markets, and a significant portion of OA capacity (19%
of total) will be impacted.
Analysis by REConnect Energy suggests that annual RECs
generation may fall from 96.25 lakhs in FY 14-15 to 54.30
lakhs per year after the amendment.
Table: Annual RECs Issuance
Sources: REC registry website; REConnect analysis.
Note: Annualized redemption is assumed to be 2X times redemption is FY 14-15.
Increase is expected due to SC order and Electricity Act amendment.
Impact on Open Access (OA) projects:
The proposed amendment is contrary to the provision in the
draft Electricity Amendment bill (EA Bill) in the Parliament,
and of many state policies.
The EA Bill says:
Sec 42(4):
“The open access consumers procuring electricity from re-newable energy sources shall not be required to pay the
surcharge for open access for such period as may be
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
FY 14-15 After 5th Amendment; annualised
Annual issuance
Annual redemption
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Analysis of 5th Amendment to REC Regulations proposed by CERC
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
www.reconnectenergy.com Page 2
38%
REC Market
Share
PAN
India
Presence
2.2 GW
Projects under
management
Managing REC
Projects in
16
States
prescribed by the Central Government”
Surcharge in the above context means cross-subsidy sur-
charge (CSS).
If the EA Bill is to be passed by the Parliament, the impact
of the 5th Amendment will be to make all RE projects in
OA ineligible for REC’s. This will discourage OA in renewa-
ble energy – something that goes against one of the prin-
ciple objectives of the EA and of CERC (to encourage mar-
ket development in the electricity sector).
Further, many states allow concessional cross-subsidy or
exemption from cross-subsidy as a way to promote open
access in RE projects. For example, Rajasthan’s solar policy
exempts solar projects under open access from CSS. Simi-
lar provisions exist in many state policies.
Renewable Energy projects will not be viable under open
access without concessional CSS provided by the states.
States realize this – and therefore the concession exists in
the first place. If RECs benefits were to be denied to such
projects, it’s the equivalent of giving from one hand and
taking from another. The net result of the amendment will
be to completely finish-off the OA market for RE power –
this is something that will be contrary to one of the fun-
damental pillars of the Electricity Act.
Further, in many existing OA transactions, prices are likely
to have been negotiated knowing the fact that the RE
project will get revenue from RECs. Such projects may
suddenly become unviable. In many states with low tariffs,
such projects will not remain competitive without RECs
and therefore risk becoming NPAs.
Impact on Captive Generating (CGP) projects:
As mentioned above, the impact on CGPs of the amend-
ment will be drastic. All CGP’s will be considered ineligible
for RECs benefits. However, in proposing the amendment,
CERC has failed to consider the case of two categories of
projects–
CGPs set up specifically to meet RPO requirements,
and
CGPs under the group captive mechanism.
Since CERC amended the RECs regulation to allow self-
retention of RECs by obligated entities, many companies
have set up CGPs in one state and meet their obligation
in other states through retention of REC’s. This approach
has multiple benefits – it has encouraged setting up of
new RE capacity, and also helps the obligated entity man-
age its compliance costs.
The proposed amendment will take away this benefit to
obligated entities. This is erroneous on three counts – (a)
the CGP is likely to have been setup by the obligated enti-
ty to meet RPO across units. Such an investment, made in
good faith keeping in mind existing regulations, may be-
come redundant after the regulation, (b) it will discourage
setting up of large new RE capacities as obligated entities
will not be able to meet RPO in states that have low RE
resources, and (c) it will take away a valid means for obli-
gated entities to comply with RPO, leaving them with very
limited options – buying of REC’s.
Group captive projects, on the other hand, also face diffi-
culties due to the amendment. In many group captive
projects, the primary investment is made by an investor,
and power prices are determined through negotiations.
Further, such projects tend to be long term in nature as
they involve an element of equity investment by the con-
sumer. A sudden change in RECs eligibility is likely to
make such projects unviable, and result in severe losses to
investors who set up projects assuming a stable RECs re-
gime.
Overall, we believe that while CERC’s intent to correct the
supply imbalance in the RECs market is needed, the unin-
tended consequence of the 5th amendment on open ac-
cess and captive projects will be harmful to the growth of
the renewable energy industry.
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Regulatory Updates
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
www.reconnectenergy.com Page 3
India’s largest REC Trading Company Clickpower.in: India’s first Green Energy Marketplace
Telangana Solar Power Policy 2015
The Government of Telangana has recently announced its
new solar policy. The new policy will be known as The Tel-
angana Solar Power Policy 2015. The new Policy will come
in force from the date of issue and will remain in opera-
tion for five (5) years and all the Solar Projects that are
commissioned during the operative period will be eligible
for the incentives declared under this policy, for a period
of ten (10) years from the date of commissioning.
Objectives of the Policy:
The objective of the Policy includes long term energy se-
curity, sustainable fuel for energy generation, promoting
solar parks in the state and promoting investment in the
solar sector. The policy also targets on promoting distrib-
uted and decentralized generation and off-grid solar ap-
plications.
For availing benefits under this policy, power generated
through solar projects has to be consumed within the
state.
Applicability of the Policy – This solar policy shall be
applicable for the following solar projects set up within
the state –
Solar Power Projects:
a) Grid connected solar power projects based on both
Photo Voltaic (PV) as well as Solar Thermal technologies
Projects set up for sale of power to TSDISCOM’s.
Projects set up for sale of power to third parties within
the state.
b) Projects set-up for captive generation/ group captive
generation (including those funded and owned by devel-
opers).
Solar Roof-top Projects (SRPs) (Grid connected and off
grid) – This includes projects which are funded and
owned by developers.
Off grid applications.
Any other project which is established based on
MNRE/GOI Schemes as amended from time to time.
Solar Parks.
Incentives Offered:
Exemption from the payment of Electricity Duty.
Deemed Industry Status will be provided.
Pollution Clearance.
The policy also mentions that solar parks will host solar
manufacturing, R&D centers, training facilities and finan-
cial institutions within the solar parks.
For further details click here.
GERC RPO Regulation Applicable on Captive and
OA consumers
The Gujarat Electricity Regulatory Commission (GERC) in a
notification dated 1st July 2015, has made RPO
(Renewable Purchase Obligation) regulation applicable on
captive and Open Access consumers of the state.
The quantum of RPO applicable on the OA and Captive
users will be same as for the distribution licensee. The
percentages of RPO targets applicable in the state are
shown in the graph below:
For analysis of the same please click here.
JERC Finalizes Solar Ground Mounted & Solar Rooftop
Regulation
The Joint Regulatory Commission for Goa and Union terri-
tories (JERC) has notified its final copy of regulation for
solar ground-mounted and rooftop solar projects. The
notified copy has been published in the official gazette
also, so the regulation has already come into force. The
regulation will remain in force for a period of three years
unless revised or extended by the commission.
This regulation will extend to the State of Goa and the
Union Territories of Andaman and Nicobar Islands, Chan-
digarh, Dadra & Nagar Haveli, Daman & Diu, Lakshad-
weep, and Puducherry.
4.75 5.506.00 6.00
6.75 7.50 8.250.25
0.50 1.00 1.00
1.25
1.50
1.75
0.00
2.00
4.00
6.00
8.00
10.00
12.00
FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17
Gujarat Yearwise RPO (in %)
Solar %
Non-solar %
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Regulatory Updates
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
www.reconnectenergy.com Page 4
India’s largest REC Trading Company Clickpower.in: India’s first Green Energy Marketplace
Solar PV and I or Solar Thermal power projects of
more than 500 kWp and Rooftop Solar Power projects
of more than 1 kWp capacity but less than 500 kWp,
rooftop projects with higher capacities can be accept-
ed under stable grid conditions.
Third party ownership of the rooftop systems is al-
lowed such generation will be eligible for availing
open access.
The target capacity for the solar generation would be
equal to solar power obligations in the respective ter-
ritories as per Procurement of Renewable Energy Reg-
ulations of the Commission.
The settlement period would be six month I.e. From
April to September and October to March.
The solar power generators are exempted from payment
of any charges towards wheeling, banking, line losses and
cross-subsidy to the extent of energy produced.
To read more on this click here.
Solar RPO Applicability
Net Metered or Gross Metered Consumer: All energy
produced by the solar project (self-consumption and
excess) shall be accounted towards RPO of the Dis-
com.
Open Access Consumer: In case the OA consumer and
the solar power generator both are obligated entities,
then only one of two would be able to claim RPO
compliance for the solar energy generated.
For further reading click here.
HPERC Proposes Tariff for Solar Projects
The Himachal Pradesh Electricity Regulatory Commission
(HPERC) has notified a draft on 16th June 2015 for the cal-
culation of solar energy tariff in the state. The proposed
tariff will be applicable for the projects where PPAs are
signed on or before 31.03.2016 and the entire capacities
covered by the PPAs are commissioned on or before
31.03.2017. The details of the proposed tariff are given in
the table below:
More analysis can be read here.
Rajasthan Finalizes Wind Tariff for FY 15-16
The Rajasthan Electricity Regulatory Commission (RERC)
has finalized the tariff for wind energy projects; it will be
applicable for FY 15-16. Earlier the commission notified a
draft and invited comments and suggestions from the
stake holders. The details of the tariff finalized are given
in the table below:
Below is the graph for tariffs finalized by RERC and CERC
and a comparison between them.
The more details can be found here.
Capacities Generic Levellised Tariff in Rs. / kWh
Without AD With AD
Cap. Up to 1 MW 7.14 6.45
Cap. above 1MW and up to 5MW
7.05 6.37
Particulars Tariff in Rs./
kwh without AD Tariff in Rs./kwh with AD
Projects located in jaisalmer, Jodhpur & Barmer districts
5.74 5.14
Projects located in districts other than Jaisalmer, Jodhpur & Barmer districts.
6.02 5.39
5.13
5.38
5.57
5.39
4.87
5.27
5.455.34
4.4
4.6
4.8
5
5.2
5.4
5.6
5.8
2012-13 2013-14 2014-15 2015-16
Year-wise Wind Tariffs
RERC Wind Tariff
CERC Wind Tariff
4.87 %3.53 %
3.23 %
8.21 %
3.42 %
-2.02 %-4.00
-2.00
0.00
2.00
4.00
6.00
8.00
10.00
2013-14 2014-15 2015-16
Change In Wind Tariffs
Change inRERC Tariff
Change inCERC Tariff
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Regulatory Updates
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
www.reconnectenergy.com Page 5
India’s largest REC Trading Company Clickpower.in: India’s first Green Energy Marketplace
MPERC Proposes to Revise Open Access Regula-
tion
The Madhya Pradesh Electricity Regulatory Commission
(MPERC) on 18th June 24, 2015 has proposed a new regu-
lation for open access power transactions in the state. The
proposed regulation will revise the previous open access
regulation 2005. The regulation will come into force from
the date of publication in the official Gazette.
The regulation will apply to open access customers for
use of intra-state transmission system and distribution
system, including systems when it is used in conjunction
with inter-state transmission system.
The open access will be allowed for Non-conventions En-
ergy sources, Captive Generating Plants of Conventional
Energy, and to all other open access consumers with load
of 1MW and above.
Categorization of Open Access Consumer:
Long-term Open Access: Any consumer availing open ac-
cess for a period of exceeding 12 years but not exceeding
25 years.
Medium-term Open Access: customers availing open ac-
cess for a period exceeding 3 months but not exceeding 3
years at a time.
Short-term Open Access: Consumer availing open access
for a period up to one month at a time.
Charges for Open Access: The commission from time to
time will fix (calculate) various charges to be payable by
the open access consumer to the distribution licensee.
The various charges payable by the open access consum-
ers will include Wheeling Charges, Transmission Charges,
and Imbalance Charges. The OA consumer will also bear
Reactive Energy Charge, Interconnection expenses, Oper-
ating Charges, additional surcharge and any other charge
levied by the commission.
The more details on regulation is available here.
JERC for Goa and UT’s Determines Tariff for Solar
Projects
The Joint Regulatory Commission for Goa and Union terri-
tories (JERC) has determined the solar tariff for ground-
mounted and rooftop solar projects. The tariff will be ap-
plicable for projects in the State of Goa and the Union
Territories of Andaman and Nicobar Islands, Chandigarh,
Dadra & Nagar Haveli, Daman & Diu, Lakshadweep, and
and Puducherry.
The commission has finalized the tariffs based on
the amount of subsidies being availed by a generator. For
the projects availing higher subsidies (being offered by
various institutions and Govt. of India); the tariff offered
will be on the lower side and vice versa.
The more details on the Tariffs defined can be read here.
GERC (Gujarat) Proposes Tariff for Solar Projects
The Gujarat Electricity Regulatory Commission (GERC) in a
draft notified earlier this month has proposed tariff for the
solar projects. The Tariff proposed in the Discussion pa-
per will be applicable to the projects commission during
July 1, 2015 to March 31, 2018. The commission through a
separate public notice has invited comments and sug-
gestions from the interested stake holders by 22nd June
2015. The details of the tariffs proposed are in the table
below:
Wheeling Charges:
For Injection at 66 kV voltage level and above, trans-
mission charges as applicable to normal open-access
customers and transmission and wheeling loss @ 7%
of the energy fed into the grid.
For Injection at 11 kV or above and below 66 kV,
wheeling in the area of the distribution licensee will
be allowed on payment of distribution loss @ 3% of
the energy fed in to the grid. In the other case of
wheeling within the state but in the area of a different
distribution licensee will be allowed on payment of
transmission charges and transmission and distribu-
tion loss @ 10% of the energy fed in to the grid.
9.709.02
8.39
6.00
9.35
7.876.95
6.35
0.00
2.00
4.00
6.00
8.00
10.00
12.00
2012-13 2013-14 2014-15 2015-16
Tariffs CERC and GERC
Tariff GERC
Tariff CERC
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Regulatory Updates
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
MERC Reduces MSEDCL distribution Tariff
The Maharashtra Regulatory Commission (MERC) in a no-
tification dated June 27, 2015, has calculated the Distribu-
tion Tariff for Maharashtra State Electricity Distribution
Company Limited (MSEDCL), which will be effective from
1st June 2015 onwards.
The commission in the present order has surprisingly re-
duce the tariffs for Industrial and commercial consumers.
The details of the tariff for commercial and Industrial con-
sumer are in the table below:
A graph on category-wise reduction in tariff is below:
The Commission has approved Wheeling Charges for 33
kV, 22/11 kV and LT Level as Rs. 0.15 per kWh, Rs. 0.83
per kWh and Rs. 1.42 per kWh respectively.
The reduction in the tariff for HT industrial consumer is
surprisingly substantial, which is in the range of 11-17%,
and the same for HT commercial consumer has been re-
duced by 10-11%. This reduction in tariff will have a con-
siderable effect on the Open access market.
For further analysis please click here.
MPERC Proposes RPO Targets till FY 18-19
The Madhya Pradesh Electricity Regulatory Commission (MPERC) through a draft notification dated 30th May 2015, has proposed the amendment to RPO regulation 2010. The draft amendment proposes RPO targets for the up-coming years (till FY 18-19).
The details of the RPO targets being proposed are as in the graphs below:
The commission through a separate public notice has
invited comments and suggestion on the said draft latest
by 22ndJune 2015.
The more details can be read here
- End of Section -
India’s largest REC Trading Company Clickpower.in: India’s first Green Energy Marketplace
www.reconnectenergy.com Page 6
Category
MSEDCL Ex-isting Tariff
MSEDCL Re-vised Tariff %
Change Energy Charges Energy Charges
HT I – Industry in Rs./kWh
HT I(A)- Industry (Express Feeder)
8.41 7.21 14.27
HT I(B)-Industry (NonExpress Feeder)
7.60 6.71 11.71
HT I(C)-Seasonal In-dustry
9.35 7.80 16.58
HT II - Commercial in Rs./kWh
HT I(A) Express Feeder
12.54 11.15 11.08
HT I(B) Non-Express Feeder
11.80 10.62 10.00
-14.27
-11.71
-16.58
-11.08
-10.00
-18.00
-16.00
-14.00
-12.00
-10.00
-8.00
-6.00
-4.00
-2.00
0.00
HT I (A) HT I(B) HT I (C) HT II (A) HT II (B)
% Change in Tariff
% Change in Tariff
0.000.40
0.600.80 1.00
1.001.25
1.501.75
0.80
2.10
3.40
4.706.00
6.00
6.507.00
7.50
0.00
1.00
2.00
3.00
4.00
5.00
6.00
7.00
8.00
FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19
RPO targets Proposes by MPERC
Solar (%)
Non-Solar (%)
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Clickpower.in Market Update
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
India’s largest REC Trading Company
Telangana Sell: 25 MW
Buy: 0 MW
Price: Rs. 5.85/Unit*
Sell: 12.6 MW
Buy: 79.6 MW
Price: Rs. 6.5/Unit*
Sell: 88 MW
Buy: 88.7 MW
Price: Rs. 5.5/Unit*
Sell: 8 MW
Buy: 4 MW
Price: Rs. 6/Unit*
Sell: 41.2 MW
Buy: 77.9 MW
Price: Rs. 6/Unit*
* Lowest Price as on 04.05.2015
AP Sell: 17 MW
Buy: 0 MW
Price: Rs. 6/Unit*
Clickpower.in: India’s first Green Energy Marketplace
Clickpower.in: India’s First Green Energy Marketplace
is now open for Consumers and Generators to register and ex-
plore. It is currently open for 6 states, with currently registered
volumes and price shown below for respective states. Feel free
to register till the offer of free registration is open. Explore and
discover the best deals of power online.
Call: +91 8088732732 for more details and assistance.
www.reconnectenergy.com Page 7
Clickpower.in Media Coverage
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REC Trade Report - June 2015
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report
Regulatory
Updates
www.reconnectenergy.com Page 8
India’s largest REC Trading Company
Non Solar RECs
Total 161,845 RECs were cleared in this trading session. IEX and PXIL had a clearing ratio of 1.6% and 0.84% respec-
tively. Total RECs redeemed this month was approx. 1 Lakh RECs lower with respect to May’15.
For past trading history - CLICK HERE
Clickpower.in: India’s first Green Energy Marketplace
10,907,254 10577625
1109168511369387
338,899 578001537160
1169826
654,985
55612256579 161,845
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
Mar-15 Apr-15 May-15 Jun-15
Non-Solar RECs
Available Issued Redemmed
5.26%
0.72%
3.64%
1.61%
6.82%
0.32%
0.89%
0.84%
0.00%
2.00%
4.00%
6.00%
8.00%
Mar-15 Apr-15 May-15 Jun-15
Non-Solar Clearing %
IEX PXIL
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REC Trade Report - June 2015
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report
Regulatory
Updates
www.reconnectenergy.com Page 9
India’s largest REC Trading Company
Solar RECs
RECs redeemed this month remained at 23,648 REC’s. The clearing ratio was 1.4% and 0.17% in IEX and PXIL respec-
tively. Solar REC traded this month were approximately 60 (sixty) thousand lower w.r.t to May trading session.
For more details please visit our blog-post here.
Clickpower.in: India’s first Green Energy Marketplace
For past trading history - CLICK HERE
3.89%
0.68%
5.51%
1.38%
4.85%
0.23%
0.40%
0.17%0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Mar-15 Apr-15 May-15 Jun-15
Solar Clearing %
IEX PXIL
1,554,388 1599598
18230982024013
114,192 232256 284104 251105
68,982 8522
8318923648
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
Mar-15 Apr-15 May-15 Jun-15
Solar RECs
Available Issued Redemmed
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REC Project Status - As on 4th May, 2015
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
www.reconnectenergy.com Page 10
Registered Capacity
4780 MW
India’s largest REC Trading Company
Projects Registered
Source wise
All figures
in MW
Biomass
696
Solar
PV 574
Wind
2311 Bio-fuel
Cogeneration
901.5
Clickpower.in: India’s first Green Energy Marketplace
Small Hydro
296
Projects Registered State wise (MW)
2 23
117
4369
364
730
84 83
398
202
1,040
168
2
137
23
1,205
27 35 24 50
200
400
600
800
1000
1200
1400
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Green News - National
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
India’s largest REC Trading Company
www.reconnectenergy.com Page 11
IFC turns focus on renewable energy funding
The International Finance Corporation (IFC), part of theWorld Bank Group, is refocusing its power sector investment
strategy and would soon invest in renewable and hydropower projects in India. It has made equity and debt invest-
ment in wind and solar segments and is now looking at corporate debt finance. IFC has invested $275 million in
debt and $47 million in equity in wind and solar energy projects in India. Source: Business Standard
SoftBank, partners eye $20 billion investment in Indian solar projects
Japan's SoftBank Corp, together with Bharti Enterprises and Taiwan's Foxconn, will invest about $20 billion
in solar projects in India, in one of the biggest investment pledges to date in the country's renewable energy sector.
SoftBank, which previously said it would invest $10 billion in India over time, said on Monday the companies had
agreed a minimum commitment of generating 20 gigawatts of energy. Source: Reuters.
India’s solar push faces challenges
India’s target to achieve 1 lakh megawatt (MW) of solar energy capacity by 2022 got a shot in the arm recently with
the SoftBank Corp.-led venture announcing plans to develop 20,000 MW of solar energy generating capacity in the
country. Currently, renewable energy constitutes less than 13% of India’s power generation capacity.
Source: Live mint.
Incentives from govt. key to boost renewable energy: SBI The government on Thursday raised the solar power generation capacity addition target to 1,00,000 MW by 2022,
which will entail an investment of around Rs. 6 lakh crore. State Bank of India (SBI) has committed Rs 20,000 crore
worth projects over the next five years. SBI is the largest contributor to the Renewable Energy Mission 2022.
Source: Moneycontrol.
Cabinet approves raising solar power to 100,000 MW "In an important decision, the Cabinet Committee on Economic Affairs (CCEA) decided that solar power capacity in
the country is to go up five times to 1 lakh megawatt by 2022," Telecom Minister Ravi Shankar Prasad told report-
ers here while briefing them on the cabinet meeting. "This is a giant step and India will become the biggest produc-
er of solar power in the world," he added. Source: Business Standard.
Maharashtra government to allow wind energy project developers to upgrade tech
To ensure better capacity utilisation of wind energy projects and help them generate power at higher efficiency, the
state government is planning to allow these project developers to upgrade their technologies. Maharashtra has
4,442.05 MW installed capacity in the wind energy sector, which forms a bulk of its 6,702.93 MW renewable ener-
gy capacity. Source: DNA India.
'Solar is emerging a competitor to wind energy'
The competition for wind is solar, said Rajesh Lakhoni, Principal Secretary, Energy, Government of Tamil Nadu, to-
day. Delivering the Special Address at the 4th International Wind Conference and Exhibition now under way at the
Codissia Trade Fair Complex Lakhoni told the participants that solar, due to its inherent advantages of being availa-
ble all round the year (though only for 8 to 10 hours a day), involves no distribution cost (as it is available near the
load centre), falling cost - is emerging a competitor to wind energy. Source: Hindu Business Line.
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India’s RPO Map
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
www.reconnectenergy.com Page 12
* BESCOM,MESCOM, CESC - 10 % + 0.25%, HESCOM, GESCOM, Hukkeri Society - 7 % + 0.25%.
Status of Regulation - Final for all states except -
Draft for Haryana and Telangana, Tripura & TN ( Draft Amendments of targets )
RPO on OA Users? - Yes for all states except West Bengal.
Karnataka (5.00% RPO) - Yes (> 5MW).
RPO on CPP? - Yes for all states except West Bengal.
Gujarat, Odisha, Haryana, Bihar, Jharkhand, Tripura, Karnataka (5.00% RPO) - Yes (> 5MW).
RPO Penalty? - Yes (RECmax) for all the states.
West Bengal - Not Specified.
States
2015-16 RPO
Obligation
(Non Solar)
2015-16 RPO
Obligation
( Solar)
Andhra Pradesh 4.75 % 0.25 %
Assam 6.75 % 0.25 %
Arunachal Pradesh 6.80 % 0.20 %
Bihar 325 % 1.25 % Chhattisgarh 6.25 % 1.0 %
Delhi 7.30 % 0.30 %
Gujarat 7.5 % 1.5 %
Haryana 3.12 % 0.38%
Himachal Pradesh 11.00 % 0.25 %
J&K 6.0 % 1.50 %
Jharkhand 3.00 % 1.00 %
Karnataka 10.00 % * 0.25 % *
Kerala 4.58% 0.25%
Madhya Pradesh 6.00 % 1.00 %
Maharashtra 8.50 % 0.50 %
Meghalaya 1.09 % 0.41 %
Odisha 6.70 % 0.30 %
Punjab 3.9% 1.0%
Rajasthan 8.20 % 2.0 %
Tamil Nadu 10.00 % 1.0%
Tripura 9.90 % 1.10%
Uttarakhand 8.00 % 0.10 %
Uttar Pradesh 5.00 % 1.00 %
West Bengal 4.80 % 0.20 %
Goa & UTs 2.70 % 0.85 %
Manipur 4.75 % 0.25 %
Mizoram 14.75 % 0.25 %
Nagaland 7.75 % 0.25 %
India’s largest REC Trading Company Clickpower.in: India’s first Green Energy Marketplace
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About REConnect
Analysis 5th Amend-
ment to REC Reg. RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates
www.reconnectenergy.com Page 13
REConnect Energy is India’s leading renewable energy trading company. We provide end-to-end services
for projects in the Renewable Energy Certificate mechanism – from contract structuring, advisory to mone-
tization of RECs. We also work with power consumers to manage Renewable Purchase Obligation (RPO)
liabilities, and develop and execute their energy sourcing strategy. We are a knowledge focused company
that prides itself in providing premium services to our clients backed by in-depth research and analysis.
Our other prime area of focus is, facilitating Private PPAs (OTC) by bringing RE Generators and HT Con-
sumers onto a single platform called Clickpower.in, which we have developed specifically for this pur-
pose. It is India’s First Green Energy Marketplace.
REConnect is run by an experienced and professional team. The team consists of members with relevant
experience of working at IEX, L&T, JP Morgan, Arthur Andersen and Gensol. Key members of the team are
alumnus of IIT Bombay, Columbia University (an Ivy League university) and IIT Kharagpur.
For more details of services provided and profile of the management team, please visit our website.
India’s largest REC Trading Company Clickpower.in: India’s first Green Energy Marketplace
Contact Details
Bangalore:
Vishal Pandya
No. 2, Victor Mansion , 2nd floor, Ko-
dihalli, Old Airport Road, HAL 2nd Stage
(PO), Bangalore—560008
O : 080 - 6547 3383 / 84
F : 080 - 30723571
New Delhi:
Vibhav Nuwal
C– 503, 5th Floor, Nirvana courtyard,
Nirvana Country, Sector 50,
Gurgaon 122018.
O : 0124 - 4103216
F : 080 - 30723571
Chennai:
Venkat Mutharasu (+919940177993)
# 18/1 (88), 2nd Floor, Aarya Gowda
Road, West Mambalam,
Chennai - 600 033.
Hyderabad:
Vignesh A. (+91 8500265841)
Solar Market:
Vibhav Nuwal
Mumbai:
Ram Kumar ( +919930359992 )
1013, 10th Floor,
Micro (Haware) Infotech Park,
Plot no. 16, Sector-30A, Vashi,
Navi Mumbai- 400705,
Maharashtra, India.
Renewable Purchase Obligation (RPO):
Chetan Singh Adhikari ( +91 9910772666)
Renewable Regulatory Fund (RRF):
Siddhartha P. (+91 9916994349)
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Disclaimer:
All the information presented in this newsletter is from publicly available sources. REConnect does not warrant the accuracy and completeness of information available and therefore will not be liable for any loss incurred. The content provided here is for the general informational purposes only. REConnect shall not be responsible for damages resulting from the use of any information in this newsletter. Readers are advised to make appropriate analysis and take appropriate advise before acting on the contents of this newsletter.
Call: +91 088732732
W: www.clickpower.in