This document discusses developing a solar power project under India's Renewable Energy Certificate (REC) mechanism. It provides an overview of REC including eligibility requirements, the process of accreditation, registration, generation, issuance of RECs, REC trading on power exchanges. It also outlines fees and charges for REC activities. The role of regulatory commissions in promoting renewable energy is discussed. Parameters like forbearance price, floor price for REC trading are explained. An evaluation of expected revenue realization from a solar project selling to captive users, third parties and at average power purchase cost is presented.