Bharat Heavy Electricals Limited (BHEL) has invited bids from traders to procure renewable energy certificates (RECs) from the National Load Despatch Center (NLDC) and trade them at the power exchanges for its 5 MW solar project in Ranipet, Tamil Nadu.
The contract will be for one year. The last date to submit the bids is June 10, 2022. Bids will be opened on the same day.
Bidders are not required to pay an earnest money deposit.
The contractor will be responsible for renewing BHEL’s registration in the Indian Energy Exchange (IEX) and the Power Exchange India (PXIL). The registration expires on June 30, 2022.
The contractor will have to coordinate with the State Load Despatch Center (SLDC) or the Tamil Nadu Generation and Distribution Corporation (TANGEDCO) to obtain an application for the issuance of RECs on a monthly basis.
BHEL Ranipet will provide authorization letters and clarifications regarding power generation details.
BHEL Ranipet will also apply for the issuance of RECs from the NLDC. The contractor should coordinate with NLDC and obtain RECs for BHEL within 15 days from the submission of documents.
The contractor has to submit REC sell bids every month at the power exchanges on BHEL’s behalf and redeem them to give BHEL the maximum benefits.
The company will not be responsible for variations in the estimated generation of 12,000 RECs and estimated trading of 27,000 RECs during the one-year period.
After the completion of trading at IEX and PXIL, trade reports should be sent to BHEL within one day from the completion of trading.
The Central Electricity Regulatory Commission recently issued ‘Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation Regulations, 2022.’ According to the new regulations, renewable energy generating stations, captive generating stations based on renewable energy sources, distribution licensees, and open access consumers are now eligible to issue RECs.
Last December, Uttarakhand Power Corporation Limited invited bids to select traders to purchase and sell energy, renewable energy certificates (solar and non-solar), and energy savings certificates (ESCerts) through power exchanges.
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Rakesh Ranjan is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). More articles from Rakesh Ranjan.