Overseas Operation - India - RECs

Within this step, the State Nodal Agency (SNA), either endorses or authorizes the RE Generator and recommends it for registration.

Eligible Generators can get accreditation not before 6 months prior to the proposed date of commission.

Accreditation Certification is valid for 5 years from the date of accreditation.

There is a separate application for separate RE Generation projects

RE Generation projects need a minimum generation of 250kW

In this process, the NDLC (National Load Dispatch Center) registers the Generator as an "Eligible Entity" for the RE Generation Project

Eligible Generators are able to register 3 months before the proposed date of commission.

Once the Certificate of Accreditation is received, then registration can be done for the RE Generation Project from the concerned State Agency.

Registration is only valid for 5 years from the date of Registration

RE projects generate electricity that is either sold to a distribution licensee, to an open access customer whom has a contract or sold through the power exchange. The metering of quantum of Renewable Energy that is injected into the grid is approved/recorded through energy accounting by SLDC (State Load Dispatch Center)

Those RE Generators that are eligible can apply to the NLDC in order to issue the RE Certificates that are equal to the amount of electricity that is injected into the grid as certified by the SLDC. Applications must be completed withing 3 months from the date that the energy was generated.

Applications can be filed on the 1st or 15th of the month

NLDC issue the RECs to the Eligible RE Generators within 15 days as per the SLDC and State Agency's generation report.

RECs are to be sold within 365 days of issuance otherwise they will lapse.

Once RECs are issued to the Eligible Entity (RE Generator), purchase/sale of the RECs amongst Obligated Entities and Eligible RE Generators can occur only through the Power Exchange and the Indian Energy Exchange.

Trading is done through Closed double-sided auction on the last Wednesday of every month

Call of bids from 13:00 to 15:00 Hrs on the day of the auction

PXs to intimates details of max sale bids places by each Eligible RE Generator to NLDC by 15:30 Hrs.

NLDC checks the availability of RECs with the Eligible Entity by 16:00 Hrs

Post-Confirmation from the NLDC. PXs determine Market Clearing Price and Market Clearing Volume. These details of the final cleared trades to NLDC for extinguishing of the RECs sold into the records by 17:00 Hrs.

Obligated Entities purchase RECs through Power Exchanges and surrender to SERC or other agencies as specified by the SERCs in order to meet their RPO. REC Registry (NLDC) maintain the records of the RECs purchase and sold.

Compliance Auditors monitor and report the compliance of REC Regulations.