Haryana Imposes Charges and Caps on Renewable Energy Banking
The Haryana Electricity Regulatory Commission (HERC) has issued regulations for establishing tariffs from renewables, renewable purchase obligation (RPO), and renewable energy certificate (REC) for the financial year (FY) 2021-22 to ...
Haryana Releases Draft Solar Power Policy, Invites Suggestions
The New and Renewable Energy Department, Haryana, has issued the draft ‘Haryana Solar Power Policy, 2021,’ and requested government stakeholders to send their comments within 15 days from the date ...
Integrated Day Ahead Market Proposed in Exchanges for Conventional & Renewable Energy
The Ministry of Power (MoP) has decided to set up an integrated day-ahead market (DAM) at the power exchanges with separate price formation for power generated from renewable energy and ...
IEX’s Green Term-Ahead Market Trades Over 21 MU of Solar Power in March 2021
Driven by an increasing electricity demand across Indian states, the electricity market at the Indian Energy Exchange (IEX) witnessed an all-time high volume of 8,249 million units (MU) in March ...
Government-owned Power Financing Institutions Reduce Lending Rates
State-owned non-banking financial firms, Power Finance Corporation (PFC), and REC will reduce lending rates by up to 2% points from April 1, 2021. According to the PTI, the PFC said, ...
Maharashtra Regulator Denies Solar Developer’s Plea to Return Bank Guarantee
The Maharashtra Electricity Regulatory Commission (MERC) has dismissed ACME Solar's plea for the return of performance bank guarantee (PBG). It said that the power purchase agreement (PPA) specifies conditions for ...
REC Market Counting on RPO Compliance Deadline Extension Amidst Trading Halt
As the power market awaits the end of an over seven-month halt in the trading of renewable energy certificates (REC), stakeholders remain hopeful of a deadline extension from their respective ...
Renewables Portfolio Standard Policy Has Driven 45% of Capacity Addition in the U.S.
The non-hydro power renewable energy generation has advanced by 402 TWh since 2000 in the U.S., of which 189 TWh or 45% of overall growth is because of Renewables Portfolio ...
DISCOM Dues to Renewable Generators Edged Up to ₹122 Billion in January 2021
Distribution companies (DISCOMs) owed ₹122.49 billion (~$1.65 billion) to renewable energy generators (excluding disputed amounts) in overdue payments across 384 pending invoices at the end of January 2021, according to ...
REC Limited’s Net Profit Hits All-Time High in Q3 FY 2021
REC Limited has announced that it has registered a net profit of ₹22.6 billion (~$310.9 million) in the third quarter (Q3) of the financial year (FY) 2021, an increase of 38% ...
IEX’s Green Term-Ahead Market Trades 24 Million Units of Solar Power in January
The Indian Energy Exchange (IEX) announced that its real-time electricity market (RTM) witnessed a trading volume of 1,233 million units (MU) in January 2021, a 9.2% monthly increase. This was ...
Tamil Nadu DISCOM Demanding Heavy Discounts on Pending Dues: Power Producers
The Association of Power Producers (APP) has complained that Tamil Nadu Generation and Distribution Corporation (TANGEDCO) is forcing them to accept heavy discounts on dues payable. In a letter to ...
Solar Developers Seek Center’s Help for Payment Release by Andhra DISCOMs
The National Solar Energy Federation of India (NSEFI) has requested the Union Power Minister, R.K. Singh, for the release of payments by the Power Finance Corporation (PFC) and REC Limited ...
REC Invites Bids to Set up Transmission System to Evacuate 8.1 GW of Solar in Rajasthan
REC Limited has invited bids to establish transmission systems to evacuate power from solar energy zones (SEZs) in Rajasthan. The invitation has been extended to transmission service providers (TSPs) under ...
Obligated Entities Still Waiting for Renewable Energy Certificates Trading to Resume
Power exchanges have not yet resumed trading renewable energy certificates (REC) as they await the final order from the Appellate Tribunal for Electricity (APTEL), allowing resumption. REC trading has now ...
APTEL’s Stay on REC Trading has Significantly Impacted the Renewable Market: Interview
Renewable energy certificates (RECs) play a vital role in helping companies meet their renewable purchase obligations (RPOs). They encourage the sale and growth of renewable energy and help the country ...
IEX’s Real-Time Market Trades 814 Million Units of Power in October
The Indian Energy Exchange (IEX) announced that its real-time electricity market (RTM) witnessed a total trade volume of 814 million units (MU) of power in October 2020, up 16% from ...
REC Trading Expected to Resume from November 25th
Power exchanges may resume trading renewable energy certificates (REC) on November 25, 2020, after a four-month halt following a stay order by the Appellate Tribunal for Electricity (APTEL) back in ...
PFC Approves Nearly ₹21 Billion for Sterlite’s ISTS Project Connecting West & Northeast
Mumbai-based power transmission company Sterlite Power secured the financial closure for its Vapi II North Lakhimpur Transmission Limited (VNLTL). Sterlite said that the total debt funding of ₹20.7 billion (~$281 ...
Power Ministry Decides to Check High Late Payment Surcharges, Proposes Rules
The Ministry of Power (MoP) has proposed Late Payment Surcharge Rules 2020. The government has noticed the extremely high rate of late payment surcharges prevailing in the sector. It has ...
Power Exchanges Hoping to Resume REC Trading by October End
Power exchanges might resume trading renewable energy certificates (RECs) in October after the Appellate Tribunal for Electricity (APTEL) issued an order postponing their trade early August. Renewable Energy Certificates “REC ...
Power Sector Financier REC Ltd to Increase its Borrowing Limit to ₹4.5 Trillion
REC Ltd, a public infrastructure finance company in India’s power sector, has received the approval to raise its overall borrowing limit to ₹4.5 trillion (~$60 billion). The foreign currency borrowing ...
PFC and REC to Infuse ₹3 Billion to Set up Backend Infrastructure for Smart Meters
The Power Finance Corporation Limited (PFC), in a recent filing on the Bombay Stock Exchange (BSE), said that it had approved the infusion of ₹1.5 billion (~$20.4 million) in a ...
LoU from IREDA, PFC, REC to Serve as Bank Guarantees for Solar Tenders
Union Power Minister R.K. Singh has approved the proposal to accept letters of undertaking (LoU) from three non-banking financial institutions that can be used like bank guarantees in renewable tenders ...
Andhra Pradesh Releases ₹9 Billion to Pay NTPC Towards Letter of Credit
The government of Andhra Pradesh approved ₹9 billion (~$123 million) to meet the expenditure of the state distribution companies (DISCOMs) in line with the payment mechanism notified by the central ...
