Depleting fossil fuel reserves and increasing consciousness about Greenhouse gas emissions are pushing everyone towards Renewable Energy. Not to mention the power crisis that is troubling the world. Large populations in third-world countries are increasingly tilting towards Stand-alone Renewable Energy solutions as conventional power is still out of reach. In India, initiatives such as Jawaharlal Nehru National Solar Mission (JNNSM) and Renewable Purchase Obligation (RPO) mechanism aim at driving Renewable Energy to the forefront of the Indian Power sector and secure India’s energy needs in the foreseeable future.
Participating in JNNSM scheme is getting more and more competitive with each passing Batch and Phase as players bid ever more aggressively. The Batch 2 of Phase 1 bidding saw bidders quoting as low as Rs.7.49 per unit (by Solaire Direct). This forces a lot of small players to go for state schemes which again have tendering process for short listing power plant developers. The good news is that REC does not have any such tendering process and hence is open to small as well as big players and that too on an equal footing as the revenue generated from REC based projects is based on market trading.
Explore the following sections to know more.