Subsequent to issuing the draft Second Amendment REC Regulations in April, CERC on 10th July issued a final version of this Amendment. This new regulation will be known as Central Electricity Regulatory Commission (Terms and Conditions for recognition and issuance of Renewable Energy Certificate of Renewable Energy Generation) (Second Amendment) Regulations, 2013.
Some of the important amendments made in this document are given below:
- The validity of Certificates issued under the Principal Regulations is extended to 730 days from the date of their issuance
- There is no cap on the minimum capacity of grid connected renewable energy generation project eligible for registration for RECs
- The words “preferential tariff” has been replaced by the words “tariff, for sale of electricity including the environmental attributes, determined under section 62 or adopted under section 63 of the Act by the Appropriate Commission.”
- As per this amendment, Electricity Duty waiver benefit has been removed as one of the disqualification criteria for eligibility for issuance of certificate on self consumption of a Captive Generating Plant (CGP) under REC scheme
- Application to the Central Agency for issuance of certificates can now be made within 6 months from the date of generation. This is provided that the said application is made on 10th, 20th or last date of the month.
- A new sub-clause has been added under clause (1) of Regulation 5 of Principal Regulations that a renewable energy generator to be qualified for issuance of RECs cannot sell electricity generated from the plant either directly or through trader, to an obligated entity for compliance of Renewable Purchase Obligation (RPO) by such an entity.
- A renewable energy generator including CGP is allowed to retain certificates to fulfill its RPO after certification and verification of concerned State agency and informing the Central agency about the details of said certificates retained. This retention is however not allowed for its group of companies for fulfilling their RPO.
For further details, the original document containing the Notification for REC Second Amendment can be downloaded here and its Statement of Reasons can be downloaded here.