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 PXIL attracts the 'First Sell bid of Solar REC'
 
First Sell Bid of Solar REC

 

Rupa Devi Singh Managing Director PXIL & Vikalp Mundra Promoter and Wholetime Director at the first sell bid of Solar REC on PXIL

 

PXIL is privileged to have the first Sell bid of Solar Renewal Energy Certificate by M and B Switchgears. The trading of RECs makes it easy for several obligated entities that may be required to purchase a certain quantum in either green power or RECs.  M and B Switchgears Ltd. has become the first solar power producer in India to be issued 249 Solar RECs by the National Load Dispatch Centre in New Delhi.

These certificates are tradable on the power exchanges and are bought by ‘obligated entities’ which are either specified consumers or electricity distribution companies (under RPO - Renewable Purchase Obligation). The Electricity Act 2003 mandates the state commissioning to specify a percentage of the total consumption of electricity in the area of distribution licensee, for purchase of electricity from renewable sources –renewable purchase obligation (RPO).