India’s Largest REC Trading Company

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October 2013

Vol: XXXVI

From Management‘s Desk

The Hon’ble Ministry of Power has proposed amendments to the Elec-

tricity Act 2003. Comments on the same are invited no later than 15th

Nov’13. In the main article this month, we have summarized the key

changes proposed and the likely impact of those, and also the issues on

which it seems silent from renewable energy perspective. The most im-

portant change proposed is the break-up of the Discom into retail sup-

plier and system manager. This change can have a significant impact on

the way power is bought and sold in the country. However, the proposed

draft is disappointing for RE sector as RPO and other issues are not in-

cluded.

“Regulatory Updates” section covers an important order from JERC on

RPO enforcement on Union Territories, and Karnataka’s order on W&B

charges for RE generators and its tariff for solar projects in the state.

Likewise, Rajasthan’s revised solar tariff order and finalization of its APPC

for FY 2011-12 have also been elaborated. Apart from this, an update on

the awaited grid synchronization of Southern Grid with the National Grid

is also discussed.

The trading results and analysis for October 2013 trade session has been

presented in our REC trade report. The prices for both non-solar and so-

lar RECs remained at floor. Although demand of non-solar RECs wit-

nessed a considerable jump as is expected in the last two quarters of

current fiscal.

We hope that this issue will be an insightful read for you and as always

we will be keen to hear your feedback.

- Team REConnect CO

NT

EN

T

Draft amendments to

Electricity Act 2003

Regulatory Updates

REC Trade Results

REC Project Stats

Green News

About REConnect

Draft amendments to Electricity Act 2003

Draft amendments to

Electricity Act 2003 About REConnect Green News REC Project Stats REC Trade Report Regulatory Updates

www.reconnectenergy.com Page 1

45%

Market Share

in REC Trading

PAN

India

Presence

2.1 GW

Projects under

management

Managing REC

Projects in

16

States

Draft amendments to Electricity Act 2003

The Ministry of Power (MoP) recently made public a docu-

ment that proposes various changes to the Electricity Act

of 2003. The below points provide a quick summary of the

proposed changes:

The current role of the Distribution Licensee has been

broken up into system business (Distribution) and sup-

ply (supply licensee).

In the new system, the Distribution Licensee will be

responsible to “operate and maintain a distribution

system to enable supply of electricity”.

The role of supplying electricity will be that of a

“supply licensee”.

This segregation of system operation and supply is a

major step, and down the road will allow multiple li-

censees to operate in a single area.

The state government will devise a scheme to effect

such a segregation.

The supply licensee will have to take “Universal Service

Obligation”. The proposed draft requires the licensee

to be “supplier of last resort” and also that they will

not resort to load shedding or power cuts.

Efforts for development of forward markets have been

emphasized.

The State Commission has been made responsible

to specify a roadmap for time bound reduction of

cross‐subsidies.

Proceedings before a commission will be disposed of

within 120 days. In the event of delay, the commission

will record the reason for such a delay.

Penalty under section 142 has been increased from Rs

1 lakh to Rs 50 lakh. Additional penalty for each con-

tinuing day of default increased from Rs 6,000/ day to

Rs. 50,000/day.

Definition of Renewable Energy has been introduced-

“renewable energy sources means renewable sources

such as small hydro, wind, solar including its integra-

tion with combined cycle, biomass, bio-fuel co-

generation, urban or municipal waste and other such

sources as approved by the Central Government in

consultation with MNRE from time to time pre-

scribed.”

Definition of Captive Power Plant is proposed to be

amended as below:

"Captive generating plant" means a power plant set

up by any person to generate electricity primarily for

his own use and includes a power plant set up by any

co-operative society or association of persons for

generating electricity for use of members of such co-

operative society or association, on terms and condi-

tions as may be prescribed by the Central Govern-

ment from time to time;

In the above definition, the word ‘primarily’ is pro-

posed to be deleted from the original sentence “by

any co-operative society or association of persons pri-

marily for generating electricity for use of members of

such cooperative society or association” and the last

line about conditions from the Central Government is

proposed to be added.

The most likely impact of this change will be on the

way ‘group captive’ schemes are designed and imple-

mented. Under the Electricity Rules, 2005 at present

members of such a society or association were re-

quired to consume a minimum of 51% electricity from

the power plant. A plain reading of this change sug-

The proposed amendment

leaves out some very im-

portant changes from the

renewable energy perspec-

tive.

Draft amendments to Electricity Act 2003

Draft amendments to

Electricity Act 2003 About REConnect Green News REC Project Stats REC Trade Report Regulatory Updates

www.reconnectenergy.com

45%

Market Share

in REC Trading

PAN

India

Presence

2.1 GW

Projects under

management

Managing REC

Projects in

16

States

gests that going forward the members would be re-

quired to consume 100% of the power generated.

Along with the prevalent clause for promotion of co-

generation & generation of electricity from renewables,

the draft has appended an additional clause which reads

as - “the promotion of hydro power generation”. From

this it is clear that the Power Ministry is keen on pro-

moting hydro power at par with renewables. Reports

that a separate “Hydro Power Obligation” may be put in

place to foster hydro power generation, had first broke

out in August 2013 in a statement by Hon’ble Minister

of Power at FICCI conference. (Our blogpost on the is-

sue can be assessed here.)

The proposed amendment comes at a time when the nation

prepares to synchronize its southern grid with that of its

new grid (an update on the same can be read in “Regulatory

Updates” section) early next year, although it leaves out

some very important changes from the renewable energy

perspective.

The state RPO regulations have a weak penalty clause -

penalty at the forbearance price of RECs needs to be set

aside by the company and used for specified purposes

and on the directions of the commission. However, in-

corporating this in section 142 would have made it

stronger.

There has been ongoing confusion (and various peti-

tions) on the issue of jointly promoting co-generation

and renewable energy. The issue stems from the reading

and interpretation of the EA. However, the current draft

does not attempt to clarify this issue.

CERC, in statutory advise given to the Ministry of Power

(dated 28th Dec 2011) has said that “we build in the Act

itself the requirement for a long-term RPO trajectory

and deterrent against non-compliance of RPO”. It fur-

ther mentioned that a penalty for non-compliance of

RPO can be in addition to that already under section

142.

The statutory advise also incorporated points on

specific market instruments like REC, on definition

of co-generation and specific provision on RPO ap-

plicability on open access consumers and captive

power producers.

However, the draft does include a clause that

makes the National Electricity Policy and Tariff Poli-

cy “binding on all including Appropriate Commis-

sions, Appropriate Governments, authorities, licen-

sees, generating companies (and) consumers.”

At present RPO trajectory is defined in the National Ac-

tion Plan for Climate Change. Solar RPO trajectory was

also included in the National Tariff Policy by way of an

amendment. If these policies become ‘binding’ then it

will pave the way for easier changes and implementa-

tion of RPO and development of REC markets.

Nevertheless, in our opinion, a direct reference in the

EA would have been stronger. And the need for the

penalty clause to be strengthened directly in the EA

cannot be understated.

The proposed amendment can be accessed here:

http://www.powermin.nic. in/acts_not if icat ion/

electricity_act2003/pdf/Draft_amendments_in_

Electricity_Act_2003.pdf

The statutory advice can be accessed here:

http://cercind.gov.in/2011/Advice_Gov/DOC000.PDF

- end of article -

Regulatory Updates

Draft amendments to

Electricity Act 2003 About REConnect Green News REC Project Stats REC Trade Report Regulatory Updates

www.reconnectenergy.com Page 3

UTs & Goa directed to meet RPO cumulatively by

end of FY14

The Joint Electricity Regulatory Commission (JERC) for the

state of Goa and UTs issued an order on 25th October

2013 with regards to compliance of RPO. Hon’ble JERC

has directed all UTs and the state of GOA to comply with

RPO targets for FY11 to FY14 positively by 31.03.2014. The

commission also asserted that it will initiate a penalization

proceeding if the entities fail to comply.

In a meeting convened on 25.10.2013, the commission

found that only UT Chandigarh and UT Pondicherry have

partially fulfilled RPO for FY11 to FY13. Rest all other UTs

and the state of GOA, according to the commission have

failed to submit detailed report for RPO compliance. All

entities have been asked to submit a detailed report to

meet RPO obligations of back log for FY11, FY12, FY13

and FY14 positively by 20.12.2013.

In the order, it is only Pudducherry, that has provided suf-

ficient and correct RPO compliance data. Accordingly, the

demand of RECs by end FY14, from Pudducherry stands at

1,32,670 non-solar RECs and 31,600 solar RECs (if it plans

to offset the balance obligation by buying RECs only).

Chandigarh has quoted total RPO from FY11-FY14 to be

around 107.497 non-solar MUs and 18.763 solar MUs.

The commission through a letter had informed the state

of Goa that cogeneration power in the state will be con-

sidered towards compliance of non-solar RPO. In line with

this, Goa has only provided data on the number of units

available from such plants, which is around 380 MUs and

is awaiting a final word on the issue from its Energy De-

velopment Agency GEDA.

Through this order, the commission also directed licen-

sees/obligated entities of Lakshadweep and Andaman

Nicobar Islands to suggest or furnish names of agencies

to be designated as State agencies.

Also, keeping in view the amendment to Tariff Policy and

a letter written by MNRE to the commission asking the

latter to reconsider and revise the solar RPO targets to

keep pace with envisaged capacity addition targets by

2022, the commission has revised the solar RPO target

from 0.4 % to 0.6% for FY14.

This particular order is of prime relevance for REC mar-

kets and is in line with similar recent RPO orders from

Uttarakhand, Maharashtra, Madhya Pradesh, Punjab &

Delhi. The copy of the order can be assessed here.

KERC determines the tariff for solar projects

KERC with an order dated 10th October 2013 deter-

mines the following tariff:

It is applicable for solar power generators entering

into PPA on or after 01.04.2013 to 31.03.2018.

The tariff mentioned above is different from tariff

from the bidding procedure.

Sharing of Clean Development Mechanism (CDM)

benefits between the generating company and the ben-

eficiaries

For first year, from the date of commercial operation,

100% of gross proceeds on account of CDM benefit

are to be retained by the project developer.

Second year onwards the share of beneficiaries will

increase by 10 % every year, from 10% (share in

2nd year) till it reaches 50 %. After this, the benefits

will be shared proportionally.

Grid Connectivity for roof-top projects

1 kW to 5 kW – single phase 230 volts

5 kW to 50 kW – 3 phase 415 Volts

50 kW to 1 MW – 11 kV line.

India’s largest REC Trading Company

Type of Solar Plant

Approved tariff in

Rs. Per unit.

Solar PV 8.4

Solar Thermal 10.92

Roof-top & small so-

lar PV 9.56

Roof-top & small so-

lar PV with 30% capi-

tal subsidy 7.2

Regulatory Updates….contd.

Draft amendments to

Electricity Act 2003 About REConnect Green News REC Project Stats REC Trade Report Regulatory Updates

www.reconnectenergy.com Page 4

Metering

Metering shall be in compliance with the CEA

(Installation and Operation of Meters) Regulations

2006 as amended from time to time.

In the case of, Solar rooftop PV systems connected to

LT grid of a distribution company, the concept of net

metering shall be adopted and the net energy

pumped into the grid shall be billed.

Note – An amendment to CEA (Installation and Operation

of Meters) Regulations 2006 has been issued recently, in

which a new definition of “renewable energy meter” has

been introduced to extend clarity to net-metering scheme.

If export>import, ESCOM pays generator at the tariff

determined.

If import > export; then generators pays to DISCOM at

prevailing retail tariff.

Applicability of Wheeling and Banking Charges and

Cross Subsidy Surcharge :

For solar generators going with intra-state open-

access, no wheeling/banking charges or cross- subsidy

charges are to be paid.

The copy of the order can be accessed here.

KERC order on wheeling & banking charges for RE

generators

Karnataka Electricity Regulatory Commission through

an order dated 9th Oct 2013 has decided to extend the

validity of order (dt – 11.07.2008) till end of current finan-

cial year, which was previously mandated to be valid only

till 10th July 2013. The key points in this order are the fol-

lowing:

1) The wheeling charges and banking charges will contin-

ue to be 5% of the injected energy and 2% respectively

along with additional UI charges between the time of in-

jection and time of drawal.

2) Captive consumers of the state wanting to avail the

benefits under the REC scheme will have to pay normal

transmission, wheeling and banking charges.

Normal wheeling charges –

For HT network – 9.85 paise per unit

For LT network – 22.99 paise per unit.

3) Captive generators will be allowed to bank the ex-

cess energy, accounting of which will be done on

monthly basis (instead of annual basis).

4) Excess energy (if any) with the distribution licensee,

at the end of the month, shall be paid by the DISCOM

(in whose generator is plant is situated) at the APPC

rate. Currently, the APPC rate is 3.07 Rs per unit.

5) The commission will shortly issue a separate format

of wheeling/banking agreement for RE generators will-

ing to participate in REC mechanism.

Southern grid to be synchronized with new

grid soon

The Central Electricity Authority (CEA) through a letter

dated 09-10-2013, has requested the apex commission

(CERC) to expedite the process of finalizing the new-

narrowed frequency band. CEA has urged this, contem-

plating the grid integration of southern grid with the

new grid, to take place somewhere in the

“beginning of new calender year”. As per the CEA, nar-

rowing of frequency band is required so as to reduce

requirement of balancing power.

In the letter, CEA has also acknowledged, the rolling

out of draft amendment to the Indian Electricity Grid

Code 2010 by CERC in June 2013. In this draft regula-

tion, the frequency band was curtailed to be from

49.95 Hz to 50.05 Hz as against the existing band of

49.5 Hz to 50.2 Hz ( more information on this can be

found in our newsletter OPEN-ACCESS Vol. 33).

CEA is expecting the commission to come up with rele-

vant final regulations by 30th Nov 2013, so that the

utilities get enough time to adjust their operating prac-

tices accordingly.

As on 30th September 2013, the total installed capacity

in southern region was around 56823 MW, which is

about 25 % of the total All-India installed capacity.

India’s largest REC Trading Company

Regulatory Updates….contd.

Draft amendments to

Electricity Act 2003 About REConnect Green News REC Project Stats REC Trade Report Regulatory Updates

www.reconnectenergy.com Page 5

Copy of the letter can be read here.

RERC to finalize APPC for FY 2011-12

Jodhpur vidyut vitran nigam Limited has submitted to

RERC the proposition to finalize the APPC for FY 2011-12

as the audited for financial year ending by March 2011, are

now available.

RERC in an order dated 2nd Nov, 2011 had determined the

APPC of Rajasthan to be Rs. 2.57 per unit on provisional

basis. In the petition filed , the Jodhpur DISCOM, as per

audited accounts for FY11 has worked out the APPC of FY

2011-12 to be Rs. 2.7350 per unit. Comments on the same

were invited by RERC no latter than 15th Oct 2013. This

increase in APPC if finalized will be 6.42 % higher than that

declared previously.

The working excel on the same can be accessed on the

home-page of RERC – http://rerc.rajasthan.gov.in/.

It will be pertinent to note that RERC, unlike most states, in

its definition of APPC, excludes short term power purchase

also along with renewable energy. APPC in Rajasthan is de-

fined as -

“The weighted average price at which the distribution li-

censee has purchased the electricity including cost of self

generation, if any, in the previous year from all the energy

suppliers, excluding short term power purchases and those

based on renewable energy.”

APPC for FY 2012-13 can be known by clicking here.

Rajasthan sets revised tariff for Solar & Biomass

power projects

Rajasthan electricity regulatory commission (RERC) through

an order dated 4th September 2013, has set a new prefer-

ential tariff rate for all solar projects (PV or thermal) to be

set up in the state. As per this order, the tariff has been set

at Rs. 8.33 per unit for solar PV projects and Rs.

11.37 per unit for solar thermal projects (for projects

not availing AD benefit). The new tariff has been decreased

by 13.5 % for solar PV and by around 5% for solar thermal

projects respectively.

This tariff will be applicable for solar PV projects signing

PPA on or before 31.04.2014 and getting commissioned

India’s largest REC Trading Company

S.No.

Particu-

lars

Tariff (when

AD is not

availed) as

per T.O dat-

ed -

30.05.2012

in Rs. Per

unit.

Tariff (when

AD is not

availed) as

per T.O dat-

ed -

04.09.2013

in Rs. Per

unit.

%age

change

in tariff

1 Solar PV 9.63 8.33 -13.50%

2

Solar

Thermal 11.95 11.37 -4.85%

before 31.03.2015. In case of solar thermal projects

the commissioning date must be on or before

31.03.2016.

The solar PV tariff is 42 paise per unit less than that

bench-marked by CERC and for solar thermal projects

it is 53 paise lesser than corresponding CERC bench-

mark.

The order on solar tariff can be accessed by click-

ing here.

With regards to Biomass based projects, the order

was out on 8th October 2013. As per this order, for

projects commissioned during FY14, the tariff applica-

ble is Rs. 5.44 per unit (for projects not availing

AD) and Rs. 5.23 (for projects availing AD).

- end of section -

Regulatory Updates….contd.

Draft amendments to

Electricity Act 2003 About REConnect Green News REC Project Stats REC Trade Report Regulatory Updates

www.reconnectenergy.com Page 6

India’s largest REC Trading Company

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Upcoming regulatory Events & Hearings

Public hearing on draft CERC (Deviation settlement mechanism & related mat-

ters) Regulations, 2013 & CERC (Indian grid code ) (Second amendment) Reg-

ulations, 2013 on 6th November 2013.

Comments to draft amendment to Electricity Act 2003 invited by 15th Novem-

ber 2013.

38th Meeting of forum of regulators (FOR) to be held on 18th November 2013.

Pre-bid conference / clarification meeting with regards to Request for Selec-

tion document for 750 MW grid connected solar photovoltaic projects under

JNNSM Phase II Batch I on 19th November 2013.

REC Trade Report - October 2013

Draft amendments to

Electricity Act 2003 About REConnect Green News REC Project Stats REC Trade Report Regulatory Updates

www.reconnectenergy.com Page 7

Non Solar RECs

Overall, Non-solar demand increased more than three-fold compared to last month (150,640 vs 49,831 in Septem-

ber 2013). As a result, clearing ratios on both exchanges improved. The uptick in demand is likely a factor of timing

(most compliance takes places in the second half of the year), and ongoing enforcement efforts at ApTel and at

state ERCs. Due to both these factors, demand is expected to improve in the coming months.

Close to 42 lakh RECs were available in the market. Of this, approx.. 39 lakh RECs were bid for trading. Clearing ra-

tions at IEX and PXIL were 4.2% and 3.64% respectively (previous month – 1.65% and 1.03%)

Clearing price remained at floor price (Rs 1,500/ REC).

India’s largest REC Trading Company

For past trading history - CLICK HERE

0

500000

1000000

1500000

2000000

2500000

3000000

3500000

4000000

4500000

August'13 September'13 October'13

Buy Bid

Sell Bid

Volume Cleared

1500 1500 1500

1000

1500

2000

2500

3000

August'13 September'13 October'13

IEX

PXIL

REC Trade Report - October 2013

Draft amendments to

Electricity Act 2003 About REConnect Green News REC Project Stats REC Trade Report

Regulatory

Updates

www.reconnectenergy.com Page 8

Solar RECs

Solar REC demand improved marginally from 6,712 in Sept to 9,275 this month (38% increase). Solar RECs demand

has been steadily rising over the last several months, and is expected to continue to do so.

Total available RECs were in excess of 67,000 RECs. This is also expected to increase in the coming months as sev-

eral projects were commissioned towards the end of September.

Clearing price remained at floor price (Rs 9,300/ REC).

India’s largest REC Trading Company

For past trading history - CLICK HERE

0

10000

20000

30000

40000

50000

60000

70000

80000

August'13 September'13 October'13

Total Demand

Total Supply

Total Volume Cleared

9300 9300 93009000

9500

10000

10500

11000

11500

12000

12500

13000

August'13 September'13 October'13

MCP-IEX

MCP-PXIL

REC Project Status - As on November 8th, 2013

Draft amendments to

Electricity Act 2003 About REConnect Green News REC Project Stats REC Trade Report Regulatory Updates

www.reconnectenergy.com Page 9

Registered Capacity

3827.901 MW

India’s largest REC Trading Company

Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

610.395

Small Hydro

207.5

Solar PV

207.73

Wind

2111.34 Bio-fuel

Cogeneration

681.268

Green News - National

Draft amendments to

Electricity Act 2003 About REConnect Green News REC Project Stats REC Trade Report Regulatory Updates

Read More

India’s largest REC Trading Company

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Increased buying from DISCOMs improve sale of RECs

After months of tepid trading, sale of 'Renewable Energy Certificates' (RECs) at the power trading body India Ener-

gy Exchange (IEX) witnessed a rise in the current trading session. The trading session at IEX featured trade of

98,921 non-solar and 6,548 solar RECs with supply far exceeding demand. However, the trading session saw the

buy volume increasing by almost 140% over the previous month largely due to increased buying by the power

distribution companies.

India gears up its waste-to-energy initiatives

India is all set to convert its trash to treasure as it gears up, albeit a bit slowly, to strengthen its waste-to-energy

sector and boost recycling and reuse - with one expert estimating the annual earnings from biofuel alone at

Rs.50,000 crore ($11 billion). Aiding India's transition to green technology are a host of European and American

consultants with economically viable and eco-friendly solutions.

Solar shines globally, but India lags

Last fortnight, a report by Mercom, an energy consultancy firm, showed that “Total corporate funding in the solar

sector, including venture capital (VC), debt financing and other equity financings raised by public companies, was

significantly higher at $2.18 billion compared to $915 million in Q2, as a number of public companies took ad-

vantage of rising market values this quarter”. The full year’s figures are expected to be a lot more impressive. India

may not take advantage of this surge.

Challenges faced by Wind Industry

There is a need to move to a more sustainable form of power generation for avoiding the adverse impacts of cli-

mate change, in line with the global target of keeping Global Mean Temperature rise below 2 degree C above pre

-industrial levels, as agreed by the world leaders. If we are serious about securing out planet’s future against ill

effects of climate change, the displacement of conventional fossil fuel usage with low carbon technologies must

be dealt with utmost seriousness.

Order confuses solar energy users

Domestic consumers who had installed rooftop solar photo vo­ltaic plants have been left clueless wi­th the ener-

gy department’s order that capital subsidy of Rs 20,000 for solar systems would be provided only to those who

purchased their systems through Ta­mil Nadu Elect­ri­city Development Agency. In the government order, the

energy department said that the subsidy would be given on ‘first come first serve’ basis by TEDA. The subsidy wi­ll

be given only to grid-connected, battery-less systems purchased from vendors approved by TEDA.

Green energy red-flagged

Solar and wind energy are considered environment-friendly, with zero carbon emissions. These sources of energy

are going to be the main elements of India’s proposed march towards a low-carbon-economy. But doubts have

begun to be expressed over long-term ecological and social fallout of rolling out wind and solar energy on a large

scale.

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India’s RPO Map

Draft amendments to

Electricity Act 2003 RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates

www.reconnectenergy.com Page 11

Status of Regulation - Final for all states.

^ data as per CSERC Draft RPO regulation.

RPO on OA Users? - Yes for all states.

Gujarat - Not Available.

Karnataka - Yes (> 5MW) 5.00% RPO.

West Bengal - Not Applicable.

RPO on CPP? - Yes for all states.

Gujarat - Yet to be notified.

Bihar, Haryana, Orissa, Jharkhand, Tripura, Karnataka(5.00% RPO) - Yes (> 5MW).

West Bengal - Not Applicable.

RPO Penalty? - Yes (RECmax) for all the states.

West Bengal - Not Specified.

** RPO targets are not determined for FY14 and are assumed to continue FY13 target levels.

* 10% + 0.25% (BESCOM,MESCOM,CESC), 7% + 0.25% for others.

States

2013-14 RPO

Obligation

(Non Solar)

2013-14 RPO

Obligation

( Solar)

Andhra Pradesh 4.75 % 0.25 %

Assam 5.40 % 0.20 %

Arunachal Pradesh 5.45 % 0.15 %

Bihar 3.50 % 1.00 %

Chhattisgarh 5.75 % ^ 0.50 %^

Delhi 4.60 % 0.20 %

Gujarat 6.00 %** 1.00 %** Haryana 2.90 % 0.10 % Himachal Pradesh 10.00 % 0.25 % J&K 4.75 % 0.25 %

Jharkhand 3. 00 % 1.00 %

Karnataka 10.00 % * 0.25 % *

Kerala 3.65 % 0.25 %

Madhya Pradesh 4.70 % 0.80 %

Maharashtra 8.50 % 0.50 %

Meghalaya 0.60 % 0.40 %

Orissa 5.80 % 0.20 %

Punjab 3.37 % 0.13 %

Rajasthan 7.20 % 1.00 %

Tamil Nadu 8.95 %** 0.05 %**

Tripura 0.90 % 0.10 %

Uttarakhand 5.00 %** 0.05 %**

Uttar Pradesh 5.00 %** 1.00 %**

West Bengal 3.90% 0.10 %

Goa & UTs 2.60 % 0.40 %

Manipur 4.75 % 0.25 %

Mizoram 6.75 % 0.25 %

Nagaland 7.75 % 0.25 %

India’s largest REC Trading Company

About REConnect

Draft amendments to

Electricity Act 2003 RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates

www.reconnectenergy.com Page 12

REConnect Energy is India’s leading renewable energy trading company. We provide end-

to-end services for projects in the Renewable Energy Certificate mechanism – from con-

tract structuring and advisory to monetization of RECs. We also work with consumers to

manage Renewable Purchase Obligation liabilities, and develop and execute their energy

sourcing strategy. We are a knowledge focused company that prides itself in providing

premium services to our clients backed by in-depth research and analysis.

REConnect is run by an experienced and professional team. The team consists of members

with relevant experience of working at IEX, L&T, JP Morgan, Arthur Andersen and Gensol.

Key members of the team are alumnus of IIT Bombay, Columbia University (an Ivy League

university) and IIT Kharagpur.

For more details of services provided and profile of the management team, please visit our

website.

Contact Details

Bangalore:

Vishal Pandya

Vishal.Pandya@reconnectenergy.com

# 4123, 6th Cross, 19th Main,

HAL 2nd Stage, Indiranagar,

Bangalore 560008.

O : 080 - 6547 3383 / 84

F : 080 - 30723571

New Delhi:

Vibhav Nuwal

Vibhav.Nuwal@reconnectenergy.com

# 216, Nirvana courtyard, Nirvana

Country, Sector 50,

Gurgaon 122018.

O : 0124 - 4103216

F : 080 - 30723571

Chennai:

Rajesh Vaidyula ( +91 9940478306 )

Rajesh.Vaidyula@reconnectenergy.com

# 18/1 (88), 2nd Floor, Aarya Gowda

Road, West Mambalam,

Chennai - 600 033.

Hyderabad:

Bhanu Tejja

( +91 7799874036 )

Bhanu.Tejja@reconnectenergy.com

Solar Market:

Anurag Dhyani

( +91 7760300499 )

Anurag.Dhyani@reconnectenergy.com

India’s largest REC Trading Company

Mumbai:

Ram Kumar ( +919930359992 )

Ramkumar@reconnectenergy.com

Haware Fanatasia

Business Park,

F 159, Plot no. 47,

Sector 30-A, Vashi,

Navi Mumbai 400703.

Renewable Purchase Obligation (RPO):

Chetan Singh Adhikari ( +91 9910772666 )

Chetan.Adhikari@reconnectenergy.com

Renewable Regulatory Fund (RRF):

Anuj Xess ( +91 8447501998 )

Anuj.Xess@reconnectenergy.com