REC is the currency of RenewableEnergy Market 1 REC is received for each MWH generation of Electricity through sustainable sources like Solar, Wind, etc. REC has two categories i. Solar REC :- This is the best invention under the “SUN” ii. Non Solar REC REC represents the attributes of Electricity generation from Renewable Energy Sources. But Solar REC is most Precious among all and trading done separately REC has no boundary and no Geographic and Physical limitation.
A. Who cAn do this?Any individual, Partners, Company, Co-operative body, Corporation, HUF, JointVenture satisfying the State/U.T. norms asprescribed by Energy Development Agency ofthat State or U.T. can do this. (Example:GEDA/ MEDA/ WEBREDA/ RRECL/ CREDA/UPNEDA ETC.)
B. How tHe Project Allotted / RegisteRed ?Eligible can get accredited theirProject with complete details not before SixMonths prior to proposed date ofcommissioning.Should have space like Land/Roof forminimum installation of 250Kw.No limit prescribed for maximum installation.Separate application for separate Projects.
C. How to proCeed for allotment and RegistRation?Eligible can register not before Three Month’sprior to date of Commissioning at CentralAgency of NLDC.Registration is possible only after stateCertificate of accreditation.Total Solar Electricity generated must be soldto DISCOM at APPC or to any one in the SolarExchange Market.
Issue of ReCElectricity metered by state Load dispatchcentre only acceptable.This certificate of meter reading is basis ofapplication to NLDC for issue of REC but allwithin three Months only.REC received to be sold within 365 days.
Trading of rECTrading of REC through closed double sided auction onlast Wednesday of every Month.Power Exchange platform for sale or purchase of REC.Post confirmation by 5 PM on last Wednesday of eachMonth regarding Price and Volume of REC by NLDC.Purchaser like Companies who are burning Diesel, Petrolor using fossil fuels like State Roadways, Railways, allElectricity Board, Transport Corporation etc. are purchaserThey have to inform to State Electricity Regulators abouttheir purchase of REC, which will be in proportion offossil fuel burnt by them on yearly basis.
Trading of rECSeller inform to State Electricity Regulators about theirsale in numbers.All Transactions done unbiased and in transparent mode,seller does not know the purchaser vice a versa.Payment released to seller of REC on T+1.Minimum Price for one Solar REC is 9300 INR andmaximum price is 13,400 INR.All State Road Transport, Railways, all Discom in India,who are burning Diesel, Petrol or Fossil Fuel will have topurchase REC to meet their obligation as per act (RPO).
Trading of rECNLDC has issued first REC in Month of May 2012.REC Market is limit less because everyone who consumesDiesel, Petrol, Fossil Fuel have to buy this REC at ultimatestage under RPO Act. The list of purchaser as defined byGovernment of India under the act is very long andvolume of solar REC to be transected at power exchangeis estimated around 500 Cr. this year.
World malls With mW roof top fit1. Mall Of Arabia, Egypt- 1.90MWp2. Grand Canyan Parkway, Las Vegas - 4.4 MWp3. Isfahan City Center Iran - 4.5 MWp4. New South China Mall, China, Donggun- 7.00MWp5. Golden Resource Mall, China, Beijing- 5.00 MWp
ADVANTAGES1. REC has good liquidity2. Sellers may enter at appropriate time and sell REC at raised price.3. Choice of Two Power Exchange.4. Certainty of Cash Flow.
ECONOMIC PREVIEW 10 MWp SYSTEMa) Yearly minimum generated Unit = 15,000 MWHb) Yearly REC issued = 15,000 REC.c) Income from 15,000 MWH sold to DISCOM = 4.50 Cr.d) Income from 15000 REC sold at Power Exchange = 15 Cr. (REC rate considered Rs. 10,000 Vs Actually sold price of Rs.13,000 for Month of May 2012 at Power Exchange)e) Income received, 1st Year ( c+d )= 19.50 Cr.f) Estimated Project Cost for 10 MWp = 90 Cr.g) Life of Project = 25 Years.
ECONOMIC PREVIEW 10 MWp SYSTEM Comparison Of Executed PPA’S and Proposed R.E.C.A. REC sale from Power Exchange gives rate of Rs. 13/- KWh.B. Minimum sold Price of Electricity to DISCOM as per Act Rs. 3/- KWh although producer is free to open access at his rate.C. REC Generator Company is to receive (A)+(B) = 13+3 = 16/- INR per KWh.D. Existing PPA is having range of INR 07.9 to 17.50.CONCLUSION: REC is proving better arm for investment for Investor. It has a very bright future.
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