New Delhi: India is looking to revamp the tradable renewable energy certificate (RECs) mechanism to boost its green economy, through measures like making such RECs perpetual, and promoting new technologies.
As part of the plan in works, the union power ministry has circulated a discussion paper for redesigning the REC mechanism, that presently calls for renewable purchase obligations or RPOs to provide incentives to green energy sources.
“Discussion paper on the requirement of redesigning the REC Mechanism has been prepared in order to align it with the emerging changes in power scenario and to promote new renewable technology,” power ministry said in a statement on Monday.
