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Outline

Outline. Chronology Conceptual framework Salient Features of REC Mechanism Role of Central Agency REC Procedures Current Status. Chronology of Events – Concept to Implementation. IMPLEMENTATION. TRANSACTION. Mar 30’11. First Session of REC Trading. Feb’11.

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Outline

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  1. Outline • Chronology • Conceptual framework • Salient Features of REC Mechanism • Role of Central Agency • REC Procedures • Current Status

  2. Chronology of Events – Concept to Implementation IMPLEMENTATION TRANSACTION Mar 30’11 First Session of REC Trading Feb’11 CERC approved Business Rules of Exchange Platform Sep’10 CERC Issued Order on Applicable Fee and Charges for Participating in REC Mechanism Jun’10 CERC has issued Order on Detailed Procedures for Implementation of REC Mechanism Jun’10 CERC has issued Order on Forbearance and Floor Price after Public Consultation Process Jan’10 CERC Designated National Load Despatch Centre as Nodal Agency under the REC Regulations Jan’10 CERC notified Regulations for Implementation of REC Framework Nov’09 Central Electricity Regulatory Commission initiated process for Implementation of REC Mechanism in India Oct’09 FOR has approved Model REC Regulations for adoption by SERCs Consultant submitted its Exhaustive Report to MNRE on Conceptual Framework for REC Mechanism in India Jun’09 Sep’08 Consultant submitted its recommendation to the Working Group on 'Policies on Renewables’ CONCEPT Aug’08 MNRE engaged Consultant to Develop Conceptual Framework for REC Mechanism in India Jun’08 Hon’ble Prime Minister announced NAPCC recognizing Implementation of REC Mechanism as tool to promote RE Jun’08 FOR initiated study to assess measures for increasing share of RE including Feasibility of Introducing REC Mechanism in India

  3. Status- RPO Regulations

  4. BIO MASS SOLAR GEO THERMAL WIND SMALL HYDRO GREEN ATTRIBUTE BIO MASS BIO MASS SOLAR RENEWABLE ENERGY CERTIFICATE Energy RENEWABLE ENERGY SOLAR CERTIFICATE NON-SOLAR CERTIFICATE Generation ELECTRICITY HYDRO

  5. RE Generation* CERC REC Regulation, 2010 – Conceptual Framework Electricity Component Sale at Preferential Tariff REC Component Obligated Entities Obligated Entities / Voluntary Buyers Distribution Company / Third Party Sale/ Power Exchange * Self consumption by CPPs based upon renewable generation are eligible for RECs NLDC

  6. Salient Features of REC Mechanism Grid Connectivity REC State Agency Central Agency RE Generator 1 MWh Trading

  7. REC Framework: Eligibility Grid Connected RE technology approved by MNRE Self Consumption/ Captive use Third party sale/Open Access PPA with Distribution Licensee No Promotional Wheeling No Promotional Banking No Electricity Duty Exempt Sale at Mutually Agreed Price PPA at Average Power Purchase Cost PPA at Preferential Tariff Eligible if All Three conditions mentioned above are met Eligible Eligible Not Eligible

  8. Entities involved to Operationalise REC Mechanism • Central • Forum of Regulators • Central Electricity Regulatory Commission • Central Agency (National Load Despatch Centre) • Power Exchanges • Compliance Auditors • State • State Electricity Regulatory Commission • State Load Despatch Centre • State Agencies • Eligible Entities • Obligated Entities

  9. REC Procedures ACCREDITATION REGISTRATION ISSUANCE TRADE & REDEMPTION

  10. Applicability & Scope • Applicable to: • RE Generators including CPPs • RE source recognized and approved by MNRE • SERCs to designate State Agencies • Accreditation -six months prior to commissioning • No PPA at Preferential Tariff • In case of PPA • After 3 years or expiry date of PPA whichever is earlier • For CPPs • No benefit in the form of: • concessional/promotional transmission or wheeling charges, • banking facility benefit and • waiver of electricity duty • Accreditation valid for five years. NLDC

  11. Step Wise Schematic Description of Procedure for Accreditation Verification Prior to Accreditation 2 1 Eligible Entity State Agency 3b SLDC Application for Accreditation Intimation of Accreditation Confirmation of Accreditation Intimation of Accreditation 3a 3c Central Agency Application for availing Accreditation by Generating Co. to the Host SA Application shall contain details of Owner/Operator, Generating Station , Metering, Connectivity , Statutory, General , fees & charges, Declaration Separate Application for each RE Generation Project

  12. NLDC designated as Central Agency. The functions of Central Agency includes : Registration of Eligible Entities Issuance of Certificate Maintaining and settling accounts in respect of the certificate Repository of transactions of certificates and Any other function incidental to the implementation of REC Mechanism The NLDC to operationalise REC mechanism has developed various procedures . Various activities in these procedures shall be undertaken in the electronic form to the extent feasible. Appointment of NLDC as Central Agency NLDC 12

  13. Schematic Description of Procedure for Registration Eligible Entity State Agency SLDC 3b Intimation of Registration 3c Application for Registration 1 Intimation of Registration Central Agency Confirmation of Registration 3d Power Exchange(s) 3a Verification Prior to Registration Intimation of Registration 2 • Information to be furnished by the applicant • Owner Details, RE Generating Station details, Certificate of Accreditation • Commissioning Schedule, Details of Fee & Charges, Declaration

  14. Time Line 3 Months 2 days 7 days 15 days 15 days Payment of applicable registration Charges NLDC

  15. Schematic Description of Procedure for Issuance State Agency Intimation of Issuance 5b Verification Pre-Condition 2 SLDC 3 Central Agency Regular Injection Report Intimation of Meter Reading Issuance of REC 4c Application for Issuance 4b 1 5a Distribution Licensee Eligible Entity 4a Joint Meter Reading

  16. Schematic Description of Procedure for Redemption Central Agency Confirmation Of REC validity & quantity (by 16:00) Verification Conditions (By 15:30) 2 Offer for Sale 13:00 to 15:00 hrs Bid for Purchase 13:00 to 15:00 Obligated Entity / Buyer Eligible Entity Power Exchange(s) 1a 1b Market Clearance (Volume & Price) Intimation of Trade results For Extinguishing REC (By 17:00) 3 Central Agency 4 Reports

  17. Home Pagehttps://www.recregistryindia.in

  18. Accreditation Details (As on 29.09.2011)

  19. Registration Details (As on 29.09.2011)

  20. Issuance & Trading

  21. Power Exchange wise Trade Details

  22. Highlights • Highest ‘Capacity’ Registered : 36 MW, Wind (Gujarat) (Gujarat Fluorochemicals Limited) • Smallest ‘Capacity’ Registered: 0.35 MW, 8 Projects • Average ‘Capacity’ Registered: 6.4 MW • Total Registered Buyers: 454 Buyers ( 5 Voluntary Buyers)

  23. Concerns of stakeholders • Extension of applying period of REC from 3 months to 6 months • Validity of RECs • Periodicity of Compliance • Quarterly or Six monthly • Floor/Forbearance Price • Longer visibility of 5 years

  24. Concerns of stakeholders • Long Term RPO Trajectory: For next 5 to 10 years • Same RPO level across the country • Strong Enforcement Mechanism • CPP eligibility: Electricity Duty waiver • Vintage based floor price for solar REC • Multiplier linked to reduction in floor price

  25. Weblinks • www.nldcindia.in • www.recregistryindia.in • www.cercind.gov.in • www.forumofregulators.gov.in • www.mnre.gov.in

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