Orient Green Power sells 18,500 RECs on the IEX
Orient Green Power, as per news reports, sold 18,500 renewable energy certificates (RECs) worth Rs 5.6 crore on the Indian Energy Exchange. The company, which has about 180 MW of wind power and 40 MW of biomass assets, sold around 6,000 RECs in January for around Rs 2 crore.
RECs are generation-based certificates and are awarded to those who generate electricity from renewable sources such as wind, biomass, hydro and solar, if they opt not to sell the electricity at a preferentially higher tariff. These certificates are tradeable on the exchanges and are bought by either specified consumers or discoms. These entities may be required to purchase a certain quantum of either green power or RECs. Trading in RECs takes place on the last Wednesday of each month.
Contact: Orient Green Power Company (OGPL)
Tel: +91 44 4901 5660