Maharashtra discoms buy most RECs

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New Delhi | Published: August 25, 2018 3:51:38 AM

State-owned power distribution companies (discoms) of Maharashtra have purchased 99.3 lakh renewable energy certificates (RECs) till FY18, the highest among states, followed by Gujarat at 29.7 lakh and Delhi at 25.2 lakh, the latest report by the Power System Operation Corporation said.

power, power sector, power industryThe market-based instrument aims at addressing the mismatch between electricity availability from renewable sources and the requirement of obligated entities to meet their RPO across states.

State-owned power distribution companies (discoms) of Maharashtra have purchased 99.3 lakh renewable energy certificates (RECs) till FY18, the highest among states, followed by Gujarat at 29.7 lakh and Delhi at 25.2 lakh, the latest report by the Power System Operation Corporation said.

RECs are an alternative to physical procurement of renewable energy designed to promote renewables and facilitate renewable purchase obligation (RPO) compliance. The market-based instrument aims at addressing the mismatch between electricity availability from renewable sources and the requirement of obligated entities to meet their RPO across states. One REC is treated as equivalent to 1,000 units of green electricity. As on March 31, 2018, about 905 renewable energy generators having capacity 3,948 MW were registered in the REC market. More than 49% of registered capacity belongs to Maharashtra and TN. As many as 3.7 crore RECs have been traded in 83 sessions, leading to transactions of around Rs 6,000 crore carried through power exchanges.

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