The Central Electricity Regulatory Commission (CERC) has created a set of procedures for the issuance of Renewable Energy Certificates (RECs) to eligible entities (distribution companies and renewable energy generators).
This procedure will apply to renewable energy generation projects and DISCOMs that have received the certificate of registration from the central agency and are eligible to avail RECs. The procedure will also apply to the central agency and stakeholders while issuing the RECs to eligible entities.
CERC believes that the procedure will facilitate the development of the power market from renewable energy sources using the issuance of RECs. This procedure has been released in tandem with the recently issued model guidelines for the accreditation of renewable energy projects or distribution licensees. It is also in lines with the new procedure for the registration of renewable energy projects and DISCOMs by the central agency.
The renewable energy generator as an eligible entity must apply for the issuance of RECs within six months from the beginning of the commercial operation of the project, after which the eligible entity will not be eligible to apply for the issuance of RECs against the said generation.
The DISCOM as an eligible entity needs to apply to the central agency for the issuance of RECs within three months from the date of obtaining the renewable energy procurement certificate from the concerned State Electricity Regulatory Commission (SERC).
The central agency will issue the RECs to the eligible entities within 15 working days from the date of physical receipt of application for issuance along with the required information. If the information provided is inadequate, the central agency will be required to inform the applicant within six working days after which the eligible entity must furnish the additional information or respond within six working days so as to enable central agency to issue the certificates in a timely manner.
The eligible entity will comply with the duties and obligations specified by the central agency, pay fee and charges to the central agency for issuing the RECs.
Mercom previously reported that the number of RECs traded in India during February 2018 was roughly double the number of RECs traded during January 2018.
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