The Central Electricity Regulatory Commission (CERC) in its recent order stated that the validity of RECs which have expired or are likely to expire between April 01, 2020, and September 30, 2020, is extended up to October 31, 2020.
The notice states that “The Commission in the exercise of Power under Regulation 15 of REC Regulations extends the validity of RECs which have expired as on 1 st April 2020 up to 31st October 2020. Besides, the validity of RECs which are likely to expire between 1 st April 2020 and 30th September 2020 is also extended up to 31st October 2020. 7. Accordingly, RECs which have expired/are due to expire between 1 st April 2020 and 30th September 2020 shall remain valid up to 31st October 2020.”
The Commission has reviewed the performance of the REC market in terms of participation of buyers and sellers, volume cleared and the prices discovered and are of the view that there is a need to extend the validity of these RECs, so as to avoid demand-supply imbalance in the REC market.
According to the data in the notice, it is evident that 1,30,500 RECs which include 34,768 Solar and 95,732 non-solar RECs which were issued prior to 01.04.2017, have expired as on 1st April 2020. Further, the Commission notes that 32,069 RECs which were issued after 01.04.2017, are due to expire within the next six months. This includes 674 Solar RECs and 31,395 Non-Solar RECs.
The notice highlighted that “The Commission vide Order dated 30.12.2019 in Petition No. 13/SM/2019 extended the validity of RECs which had expired/ were likely to expire between 1 st November 2019 and 31st March 2020 up to 31 st March 2020.”
In March, The Central Electricity Regulatory Commission (CERC) permitted transmission license to Powergrid Bhuj Transmission Limited. On a Build, Own, Operate and Maintain (BOOM) basis, Power Grid Corporation of India (PGCIL) will establish a transmission system for providing connectivity to renewable energy (RE) Projects at Bhuj-II (2 GW) in Gujarat. In the document, the commission stated that, In an order dated 24.1.2020, they had proposed to grant transmission license to the Petitioner company and directed for the issue of public notice.No suggestions/objections was received in response to notice hence CTU in its letter dated 6.12.2019 has granted transmission license to the Petitioner. It also stated that “We are satisfied that the Petitioner company meets the requirements of the Act and the Transmission Licence Regulations for grant of transmission license for the subject Transmission System mentioned in this order. Accordingly, we direct that Transmission Licence be granted to the Petitioner, Powergrid Bhuj Transmission Limited, to establish “Transmission System for providing connectivity to RE Projects at Bhuj-II (2000 MW) in Gujarat” on Build, Own, Operate and Maintain basis as per the details given in this order”.
Recently, The Central Electricity Regulatory Commission (CERC) passed an order declaring that the PPA and PSA (Power Purchase Agreement and Power Sale Agreement) are interconnected and inextricably linked to each other and introduction of Goods and Services Tax comes under the scope of the “Change in Law” clause for power purchase agreements (PPAs). The order was passed after the case in which petitions were filed by two solar developers ie. Sadipali Solar Private Limited and Jyoti Solar Solutions Private Limited against the Solar Energy Corporation of India (SECI), the Ministry of New and Renewable Energy (MNRE), and the Grid Corporation of Odisha (GRIDCO).