recregistryindia.nic.in Procedure For Redemption Of Renewable Energy Certificate : REC Registry of India

Organization : Renewable Energy Certificate [REC] Registry of India
Facility : Procedure For Redemption Of Renewable Energy Certificate

Home Page :https://www.recregistryindia.nic.in/
Download here :https://www.statusin.in/uploads/1184-cREC_Procedures.pdf

For Redemption Of Renewable Energy Certificate :

** This procedure shall provide guidance to the entities to implement Renewable Energy Certificate mechanism as envisaged under Central Electricity Regulatory Commission (Terms and Conditions for recognition and issuance of Renewable Energy Certificate for Renewable Energy Generation) Regulations, 2010 notified by CERC and its tions to facilitate development of market in power from renewable energy sources by issuance of Renewable Energy Certificates (REC)- .

Related : REC Registry of India Procedure For Accreditation Of Renewable Energy Generation Project : www.statusin.in/1194.html

** Words and expressions used in these Procedures and not defined herein but defined in the Act, the CERC REC Regulations or any other Regulations issued by the Central Commission shall have the same meaning assigned to them respectively in the Act, the CERC REC Regulations or such other

Step-Wise Description Of The Procedure :
The basic procedure for redemption of renewable energy certificate(s) shall include following steps :
STEP 1 :
The Eligible Entity shall place for dealing of renewable energy certificates, both „Solar- and „Non-Solar- Certificates,

STEP 2 :
During the time the bidding window opens in the Power Exchange(s), the eligible entities shall place their offers and the buyers1 shall place their bids through the trading platform of the respective Power Exchange.

STEP 3 :
On closure of the trading window, the Power Exchange(s) shall send the maximum bid volumes for each of the eligible entity, which has placed offers on that Power Exchange, to the Central Agency for verification of the quantity of valid RECs available with the concerned eligible entity for dealing on the Power Exchange(s).

STEP 4 :
The Central Agency shall check the combined maximum bid volume in the Power Exchange(s) for each eligible entity against the quantity of valid RECs for that entity for both „Solar- and „Non-Solar- Certificates. The Central

STEP 5 :
The Power Exchange(s) shall work out the Market Clearing Price and the Market Clearing Volume taking into account the advise received from the Central Agency and send the final cleared trades to the Central Agency for extinguishing of the RECs sold in the records of the Central Agency. The certificates will be extinguished by the Central Agency in the „First-in-First-out- order. 4. FUNCTIONS, ROLES AND RESPONSIBILITIES OF ENTITIES INVOLVED

Eligible Entity :
** Eligible Entity shall comply with the duties and obligations specified by the Central Agency.
** Eligible Entity shall follow directions given by the Appropriate Commission from time to time.
** Eligible Entity shall place for dealing of renewable energy certificates to Power Exchange(s) & State Agency(ies) in timely manner