Indian Energy Exchange

A1	A2	E1	E2
N1	N2	N3	S1
S2	S3	W1	W2
W3	MCP

Details available at www.recregistryindia.nic.in

Procedure for Accreditation

The State Nodal Agency (SNA) issues accreditation certificates to a renewable generator post satisfying itself of its qualification.

Eligible Generator can get accredited not before 6 months prior to the proposed date of commissioning
Accreditation Certificate valid for 5 years from the date of accreditation
Separate applications for separate RE generation projects
Minimum capacity of RE generation project to be 250 KW

Click here to view the sample format of Application for Accreditation of RE Generation Project for REC Mechanism and Certificate of Accreditation

Procedure for Registration

Post accreditation by SNA, the NLDC (Central Agency) registers a renewable generator as an ‘Eligible Entity’.

Eligible Generator can get registered not before 3 months prior to the proposed date of commissioning.
Registration can only be done after receipt of the ‘Certificate of Accreditation’ for the RE Generation Project from the concerned State Agency.
Registration is valid for 5 years from the date of Registration.

Click here to view the format of Application for Registration of Generating Company and Certificate of Registration

Procedure of Issuance

The electricity generated from a renewable project is injected into the grid and sold to either a distribution licensee or open access consumer with whom it has a contract or sold through the power exchange. The metering of quantum of renewable energy injected into the grid is approved by or recorded through energy accounting by SLDC
Eligible renewable generator applies to NLDC to issue the certificates equivalent to the amount of electricity injected into the grid as certified by the SLDC. The application must be filed within three months from the date of renewable energy generated.
Application can be made on a fortnightly basis, i.e., on the 1st day of the month or on the 15^th day of the month.
NLDC to issue RECs to Eligible RE Generator within 15 days as per SLDC and State Agency''''s generation report.
RECs to be sold within 730 days of issuance or else they will lapse.

Click here to view the format of Application to Issuance of Renewable Energy Certificate
Click here to see the Sample Renewable Energy Certificate

Procedure for REC Trading and Redemption

Once the RECs are issued to the Eligible Entity, sale of RECs can be done through CERC approved Power Exchanges.

Trading through Closed Double-sided auction on the last Wednesday of every month.
Call of bids from 13:00 hrs to 15:00 hrs on the auction day(T-day).
PXs to intimate details of total sale bids placed by each Eligible RE Generator to NLDC by 15:30 hrs.
NLDC to check availability of RECs with the eligible entity by 16:00 hrs.

Post-confirmation from NLDC, Power Exchanges (PXs) determine Market Clearing Price and Market Clearing Volume and send the details of final cleared trades to NLDC for extinguishing of RECs sold in the records of NLDC by 17:00 hrs.

Procedure for Redeeming of RECs

The Obligated Entities purchase RECs through PXs and submit it to SERC or other agency as specified by State Electricity Regulatory Commissions (SERCs) to meet their RPO. NLDC – the nodal agency maintaining REC Registry maintains the record of RECs sold and purchased.

Procedure for Compliance Reporting

Compliance Auditors monitor and report the compliance of REC Regulations.

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DAM Prices 28 Apr 2024 (Rs./kWh)

5.87

7.24

5.42

10.00

2.68