Sale of renewable energy certificates up by 31 per cent to 6.48 million

The sale of renewable energy certificates (RECs) increased to 6.48 million in 2016-17, a 31 per cent rise as compared to 4.95 million in 2015-16. The Indian Energy Exchange and Power Exchange India hold auctions for the sale of RECs on the last Friday of every month. The power distribution companies, as well as open access and captive consumers have to purchase RECs from renewable energy producers under renewable purchase obligations as mandated by the central and state regulatory commissions.