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Legal Briefing
Powering a sustainable future – Indian Renewable Energy Certificate prices likely to be cut
Practice Area: Renewables
Sector: Energy and Utilities
Jurisdiction: India
Published: 11 July 2011
Law Firm: Eversheds
Overview
This Eversheds briefing discusses a proposal by the India Central Electricity Regulatory Commission (CERC) to reduce the price of Renewable Energy Certificate (RECs) for the financial year 2012-2013. The proposals suggest a drive from the CERC to promote competition, efficiency and investment in renewable energy projects.
RECs are a policy mechanism to promote renewable energy based power generation in India. Obligated entities are able to purchase RECs to meet their Renewal Purchase Obligations (RPO). An REC is created when one megawatt hour of electricity is generated from an eligible renewable energy resource. REC trading was launched in India in February 2011 in an effort to promote cleaner energy nationwide.
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