CLP India may put assets under REC scheme
Hong Kong-based CLP India, which has 630 MW of wind assets, is now considering putting its future renewable energy projects under the ‘renewable energy certificate (REC)’ scheme, the company’s Senior Vice-President — Finance, Mr Hemanth Joshi, said today.
Speaking to Business Line on the sidelines of Renergy 2012, a conference-cum-exhibition event organised here by the Tamil Nadu Energy Development Agency (TEDA), Mr Joshi said that CLP India was watching the REC market keenly.
RECs are generation-based ‘certificates’ awarded (electronically, in demat form) 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 trade-able on the exchanges and are bought by ‘obligated entities’, who are either specified consumers or electricity distribution companies. These obligated entities may either required to purchase a certain quantum of either green power or RECs.
CLP India is the largest foreign investor in the Indian power sector, with over 2,600 MW of capacity, including the wind assets.
Meanwhile, the second unit of CLP India of 660 MW capacity is expected to be synchronised to the grid by the end of this month, Mr Joshi said.
The first unit of the 1,320 MW Jhajjiar Power began pumping electricity into the grid a month ago.
CLP (formerly, China Light and Power) has chosen the boiler and turbine from Dong Fang of China.