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Outline Chronology
Conceptual framework
Salient Features of REC Mechanism
Role of Central Agency
REC Procedures
Current Status
Chronology of Events – Concept to Implementation
21/04/23 2
FOR initiated study to assess measures for increasing share of RE including Feasibility of Introducing REC Mechanism in IndiaJun’08
Hon’ble Prime Minister announced NAPCC recognizing Implementation of REC Mechanism as tool to promote REJun’08
MNRE engaged Consultant to Develop Conceptual Framework for REC Mechanism in IndiaAug’08
Central Electricity Regulatory Commission initiated process for Implementation of REC Mechanism in IndiaNov’09
CERC notified Regulations for Implementation of REC FrameworkJan’10
CERC has issued Order on Forbearance and Floor Price after Public Consultation ProcessJun’10
CERC Issued Order on Applicable Fee and Charges for Participating in REC MechanismSep’10
CERC approved Business Rules of Exchange PlatformFeb’11
First Session of REC TradingMar 30’11
CERC Designated National Load Despatch Centre as Nodal Agency under the REC RegulationsJan’10
Consultant submitted its recommendation to the Working Group on 'Policies on Renewables’Sep’08
Consultant submitted its Exhaustive Report to MNRE on Conceptual Framework for REC Mechanism in IndiaJun’09
FOR has approved Model REC Regulations for adoption by SERCsOct’09
CONCEPT
TRANSACTION
CERC has issued Order on Detailed Procedures for Implementation of REC MechanismJun’10
Status- RPO Regulations
BIO MASS
HYDRO
SOLAR
RENEWABLE ENERGY
BIO MASS
GEO THERMAL
SMALL HYDROWIND
SOLAR
BIO MASS
Energy
Generation
GREEN ATTRIBUTE
GREEN ATTRIBUTE
ELECTRICITYELECTRICITY
RENEWABLE ENERGY
CERTIFICATE
SOLAR CERTIFICATE
NON-SOLAR CERTIFICATE
CERC REC Regulation, 2010 – Conceptual Framework
NLDC 5
Electricity Component
* Self consumption by CPPs based upon renewable generation are eligible for RECs
RE Generation*
Sale at Preferential
TariffREC Component
Obligated Entities / Voluntary Buyers
Distribution Company/ Third Party Sale/ Power Exchange
Obligated Entities
RE Generator
Trading
1 MWh
Central Agency
REC
Salient Features of REC Mechanism
REC Framework: Eligibility
Self Consumption/
Captive use
Third party sale/Open Access
PPA with Distribution Licensee
No Promotional Wheeling
No Promotional Banking
No Electricity Duty Exempt
Sale at Mutually Agreed Price
PPA at Preferential
Tariff
PPA at Average Power Purchase
Cost
Eligible Eligible Not EligibleEligible if All Three conditions mentioned above are met
Grid Connected RE technology approved by MNRE
Entities involved to Operationalise REC Mechanism
Central Forum of Regulators Central Electricity Regulatory Commission Central Agency (National Load Despatch Centre) Power Exchanges Compliance Auditors
State State Electricity Regulatory Commission State Load Despatch Centre State Agencies Eligible Entities Obligated Entities
ACCREDITATION
REGISTRATION
ISSUANCETRADE &
REDEMPTION
REC Procedures
NLDC 10
Applicability & Scope Applicable to:
RE Generators including CPPs RE source recognized and approved by MNRE
SERCs to designate State Agencies Accreditation -six months prior to commissioning No PPA at Preferential Tariff In case of PPA
After 3 years or expiry date of PPA whichever is earlier For CPPs
No benefit in the form of: concessional/promotional transmission or wheeling charges, banking facility benefit and waiver of electricity duty
Accreditation valid for five years.
Eligible EntityEligible Entity State AgencyState Agency SLDCSLDC
Verification Prior to
Accreditation
Application for Accreditation
Confirmation of Accreditation
Intimation of Accreditation
Intimation of
Accreditation
3a3c
3b1
2
Step Wise Schematic Description of Procedure for Accreditation
Central AgencyCentral Agency
Application for availing Accreditation by Generating Co. to the Host SA
Application shall contain details of Owner/Operator, Generating Station , Metering,Connectivity , Statutory, General , fees & charges, Declaration
Separate Application for each RE Generation Project
NLDC 12
NLDC designated as Central Agency.
The functions of Central Agency includes : Registration of Eligible Entities Issuance of Certificate Maintaining and settling accounts in respect of the certificate Repository of transactions of certificates and Any other function incidental to the implementation of REC Mechanism
The NLDC to operationalise REC mechanism has developed various procedures . Various activities in these procedures shall be undertaken in the electronic
form to the extent feasible.
Appointment of NLDC as Central Agency
Eligible EntityEligible Entity State AgencyState Agency SLDCSLDC
Power Exchange(s)Power Exchange(s)
Central AgencyCentral Agency
Verification Prior to
Registration
2
Confirmation of
Registration3a
Intimation of
Registration
3b
Intimation of
Registration
3c
Intimation of
Registration
3d
Schematic Description of Procedure Schematic Description of Procedure for Registrationfor Registration
Application for
Registration 1
Information to be furnished by the applicant
Owner Details, RE Generating Station details, Certificate of Accreditation
Commissioning Schedule, Details of Fee & Charges, Declaration
NLDC 14
Time Line
Payment of applicable registration Charges
2 days7 days
15 days 15 days
3 Months
Schematic Description of Procedure for Issuance
State AgencyState Agency
SLDCSLDC
Distribution Licensee
Distribution Licensee
Eligible EntityEligible Entity
CentralAgencyCentralAgency
Joint Meter Reading
Application for Issuance
Verification Pre-Condition
Intimation of Meter Reading
Regular Injection Report
Intimation of Issuance
Issuance of REC
1
2
3
4a
4b
4c
5a
5b
Schematic Description of Procedure for Redemption
Obligated Entity / Buyer
Obligated Entity / Buyer
Eligible Entity
Eligible Entity
Power Exchange(s)
Power Exchange(s)
Offer for Sale13:00 to 15:00 hrs
1a
Bid for Purchase13:00 to 15:00
1b
Central AgencyCentral Agency
Verification Conditions(By 15:30)
Verification Conditions(By 15:30)
22Confirmation
Of REC validity & quantity
(by 16:00)
Confirmation Of REC validity &
quantity(by 16:00)
Central AgencyCentral Agency
Intimation of Trade results
For Extinguishing REC
(By 17:00)
3
Market Clearance(Volume & Price)
ReportsReports
4
Home Pagehttps://www.recregistryindia.in
Accreditation Details (As on 29.09.2011)
Non Solar Capacity (MW) NumberWind 682 168Small Hydro 59 12Bio Mass 352 30Bio Fuel Cogeneration 318 29Urban & Municipal Waste 0 0
Total 1411 239Solar Capacity (MW) Number Solar Thermal 0 0Solar PV 0 0
Total 0 0
Non Solar Capacity (MW) NumberWind 569 121Small Hydro 52 10Bio Mass 224 20Bio Fuel Cogeneration 230 21Urban & Municipal Waste 0 0
Total 1075 172Solar Capacity (MW) Number Solar Thermal 0 0Solar PV 0 0
Total 0 0
Registration Details (As on 29.09.2011)
Issuance & TradingMonth,
Year
Opening Balance
RECs Issued
RECs Redeemed
Closing balance
March, 2011 0 532 424 108
April, 2011 108 4503 260 4351
May, 2011 4351 28270 18502 14119
June, 2011 14119 27090 16385 24824
July, 2011 24824 30224 18568 36480
August, 2011 36480 31813 25096 43197
Sept, 2011 43197 72850 46362 69685
Total 195282 125597
Power Exchange wise Trade Details
Month
IEX MCV( RECs
Traded)PXI MCV
( RECs Traded)Total Trade
IEX MCP(Rs/ REC) PXI MCP
(Rs/ REC)
March, 2011 274 150 424 3900 2225
April, 2011 260 0 260 1500 0
May, 2011 14002 4500 18502 1500 1500
June, 2011 15902 483 16385 1500 1500
July, 2011 14668 3900 18568 1555 1550
August, 2011 22096 3000 25096 1800 1710
Sept,2011 41385 4977 46362 2300 2300
Highlights• Highest ‘Capacity’ Registered :
36 MW, Wind (Gujarat)(Gujarat Fluorochemicals Limited)
• Smallest ‘Capacity’ Registered: 0.35 MW, 8 Projects
• Average ‘Capacity’ Registered: 6.4 MW• Total Registered Buyers:
454 Buyers ( 5 Voluntary Buyers)
Concerns of stakeholders• Extension of applying period of REC from 3 months
to 6 months
• Validity of RECs
• Periodicity of Compliance
– Quarterly or Six monthly
• Floor/Forbearance Price
– Longer visibility of 5 years
Concerns of stakeholders
• Long Term RPO Trajectory: For next 5 to 10
years
• Same RPO level across the country
• Strong Enforcement Mechanism
• CPP eligibility: Electricity Duty waiver
• Vintage based floor price for solar REC
– Multiplier linked to reduction in floor price24
Weblinks
• www.nldcindia.in• www.recregistryindia.in• www.cercind.gov.in• www.forumofregulators.gov.in• www.mnre.gov.in