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Green certificate sales up 58% to 17.45 lakh in April-September

Sales of renewable energy certificates (RECs) jumped about 58 per cent to 17.45 lakh in the first half of this fiscal, indicating increasing compliance of renewable purchase obligations (RPOs).Power distribution companies as well as open access and captive consumers are under obligation to buy RECs from renewable energy producers under RPO mandated by central/state regulatory commissions. RECs are aimed at providing an easier avenue for various entities, including power distribution companies, to meet their green energy obligations.  

"The quantum jump in sale of RECs at 17.45 lakh in April-September period compared to 11.05 lakh in the same period last fiscal clearly indicates the increase in compliance by utilities and other consumers," a power exchange official said.He added that the sale of RECs in 2016-17 would be higher than the previous fiscal's figure of over 49 lakh.Two power exchanges -- Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL), approved by the Central Electricity Regulatory Commission -- hold auction of RECs on the last Wednesday of every month.According to the data available on both exchanges, IEX has sold 11.81 lakh RECs in April-September this fiscal compared to 8.73 lakh in same period in previous financial year.Similarly, PXIL sold 5.64 lakh RECs in the six month period compared to 2.32 lakh a year ago.