India’s Largest REC Trading Company - REConnect · PDF fileon declaration of CPP of...

Indiarsquos Largest REC Trading Company

April 2014

Volume - 41

From Managementlsquos Desk

With the start of a fresh compliance year FY 2014-15 the RPO

enforcement seems to be gaining momentum This month

there were some strong directives given by Andhra Pradesh

and Uttarakhand ApTel also gave its judgement pertaining to

RPO in a case between Indian Wind Energy Association and

GERC On the flip side Delhi discoms have requested DERC to

waive FY13 RPO targets Evidently these updates form the main

coverage this month

In the regulatory updates section we have covered APPC de-

clared by Karnataka for FY14 and FY15 Jharkhand ERCrsquos order

on declaration of CPP of Bokaro Steel plant as co-gen and a

few other updates

Demand crashed on both exchanges for both solar and non-

solar RECs This was as expected due to April being first month

of compliance year Our REC trade related analysis is available

in the relevant section

As always we hope this volume to be an insightful read and

look forward to your feedback

- Team REConnect

CO

NT

EN

T

Strong enforcement like-

ly in FY15

Regulatory Updates

REC Trade Results

REC Project Stats

Green News

About REConnect

Strong enforcement likely in FY15

Strong enforcement

likely in FY15 About REConnect Green News REC Project Stats REC Trade Report Regulatory Updates

wwwreconnectenergycom

45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States

Strong RPO enforcement is the need of the hour for re-

viving the current REC markets Towards that things

have started on the right footing in this financial year In

April 2014 we have seen some important orders from

ApTel Uttarakhand ERC and steps taken on RPO com-

pliance from Andhra Pradesh

These and other developments are discussed in detail

below

ApTelrsquos judgement in case of IWEA vs GERC -

The ApTel recently pronounced its judgement (dated -

25th April 2014) in an appeal filed by INWEA - (INWEA

is an association of wind energy generators across vari-

ous states in India) against an order (dated 17th August

2012) given by Gujarat Electricity Regulatory Commis-

sion (GERC) In the original order (refer) GERC had re-

vised the RPO targets of FY11 and carried forward the

shortfall of FY12 to FY13 In the same order excess solar

energy procured within Gujarat in FY13 was made to

partially fulfil the shortfall in non-solar RPO

The implications of the order were that the REC market

was going to suffer from lower demand for RECs

In the current judgement (refer) decision on the follow-

ing main issues pertaining to RPO were made

1 GERCrsquos failure in involving RE generators through pu-

bic hearing before releasing the order

2 GERCrsquos decision to revise the RPO targets of FY11

with respect to actual RE power procured

3 GERCrsquos decision to allow discoms to carry forward

their shortfall

4 GERC allowed discoms to off-set their non-solar

RPO by way of procuring excess solar generation in

the state

With regards to point 1 ApTel decided to forgive

the absence of public consultation process before

releasing the order as it was the very first suo motu

review of RPO compliance by the commission and

that there was no regulation on such matter therein

Nevertheless ApTel made clear that all future orders

of this nature will have to be necessarily accompa-

nied by a public hearing process as RPO not only

concerns the Discoms but also the interests of the

general public The order states

ldquoKeeping in view the environmental concerns of the

public it would be prudent to seek suggestions and

objections of the public in the proceedings where

the State Commission reviews the RPO of the distri-

bution licensees and passes orders on relaxation or

carry forward of RPOs and default of distribution

licensees in meeting the specified RPO targetsrdquo

With regards to point 2 ApTel in support of the

submissions by state commission held that there

was no infirmity in revising the RPO targets of FY11

ApTel agreed that the RPO targets for FY11 were

abruptly more than doubled which made difficult

for discoms to plan and tie-up enough capacity in a

short notice Also REC started trading only in Octo-


Strong enforcement


wwwreconnectenergycom Page 2

45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States

ber 2010 and therefore REC availability was limited

ApTel held this view on the grounds that the situation

was beyond the control of discoms

With respect to carry forward issue ApTel did not inter-

fere with the decision of GERC However it took serious

note of mishandling of the issue of RPO compliance by

state commission ApTel noted that the contentions

made by GERC are contradictory On one hand GUVNL

did not make efforts to purchase RECs while on the oth-

er hand GERC held that adequate RECs were not availa-

ble In connection with this ApTel gave guidelines for

future course of action However despite recognising

that the carry forward was improper and Discoms were

at fault the ApTel refrained from imposing penalties

Instead it only gave general guidelines The order

states

ldquocarry forward of the shortfall in RPO to the next year

should be allowed if the distribution licensee despite

making efforts to procure renewable energy and pur-

chase REC could not meet the RPO targetrdquo amp

ldquoAdmittedly some of the distribution licensees did not

make any efforts to purchase RECrdquo

The principal RPO regulations of Gujarat do not have a

mention for off-setting shortfall in non-solar RPO by

way of procuring additional solar power However since

GUVNL had already tied-up excess solar capacity and

buying additional non-solar RECs was adversely going

to affect the consumers GERC came out with such or-

der which was acknowledged by ApTel also

Updates from Andhra Pradesh -

Andhra Pradesh has also recently taken steps for

monitoring the compliance of RPO targets in the

state by its obligated entities As per information

from trusted sources Andhra Pradesh State Power

Table 1 Allocated cost (by select state ERCs) for RPO

compliance in FY 2014-15

DISCOMState

Total amount (in

crore INR) allocated

for RPO compliance

in FY 2014-15

(Source - ARRTariff

Petitions)

Remarks

BRPL -Delhi 119

Non Solar -

INR 907 cr

Solar - INR

283 cr

BYPL - Delhi 716

Non Solar -

INR 562 cr

Solar - INR

154 cr

TDPPL - Delhi 9225

Non Solar -

INR 7471 cr

Solar - INR

1754 cr

JSPL - Chhattis-

garh 1609

Total alloca-

tion for RPO

NBPDCL - Bihar 738 Only for Solar

RPO

SBPDCL - Bihar 137 Only for Solar

RPO

JERC - UTs amp

Goa 5188

Non Solar

RPO - Rs

3006 cr Solar

RPO - 2182 cr


Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States

Distribution Company Limited (APSDCL) has written let-

ters to obligated entities to submit hard copies of RECs

purchased towards RPO for the financial years 2012-13

amp 2013-14 to SLDC Not only this if any company fails

to furnish the details within 15 days the necessary

amounts towards RECs will be reflected in their next

months bill

Such directives go a long way in ensuring strict compli-

ance

Updates from Uttarakhand -

Uttarakhand the only state to have imposed penalty for

non-compliance also maintained its tough stand on a

review petition filed by MD of UPCL for reconsideration

More on this development can be read in Article 1 of

ldquoRegulatory Updatesrdquo section

UERC through a different order stated that all co-

generation based CPPs will not have RPOs applicable

from the date (28th Dec 2013) an amendment was in-

troduced to principal RPO regulations But RPOs for

FY12 FY13 and FY14 (till 27th Dec 2013) will have to be

met by all CPPs The order is covered in detail in Article

2 of ldquoRegulatory Sectionrdquo

Updates from Delhi | a negative move -

Delhi discoms have requested to DERC to waive RPO

targets of FY13 This request was put forward by dis-

coms in their respective ARR petitions for FY15 The dis-

coms contend that RPO regulations were introduced in

Delhi only in October 2012 and as such there was little

time in that year to meet the targets

While it is left on DERC to decide on this matter any

decision in favour of the request would further dent

the ongoing positive enforcement efforts in other

states

The ARR petitions are available on DERCrsquos website

The year ahead -

There are several regulatory milestones in the year

ahead which may further the cause of RPO enforce-

ment The most interesting will be the ApTelrsquos stand

on GERCs order for RPO exemption for the year 2012

-13 In the most recent order ApTel has allowed the

carry forward but has said that in the future such a

carry forward cannot be allowed without factoring in

availability of RECs However in 2012-13 GERC had

waived off RPO The larger effect of this order was

that in the years 10-11 and 11-12 RPO was rolled-

forward and later waived off

The Aptel is also hearing a petition on overall en-

forcement of RPO In this all the state ERCs are re-

spondents

Further hearings on RPO compliance are on-going in

several states and Union Terretories (for example in

Chattisgarh and at JERC ndash UTs) We may also hear the

Gujarat High Courtrsquos stand on the issue on a petition

with them and also from the Supreme Court on the

order by Rajasthan HC earlier


Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States

A few state discoms have already allocated funds for

purchase of RECs in respective tariff petitionsARR for FY

2014-15 We have compiled the data that is available in

public domain on websites of various ERCs (Refer Table

1 on Page 2)

The Forum of Regulators (FOR) in their 40th meeting

held on 2nd April 2014 at New Delhi also discussed the

issue of RPO enforcement in detail A presentation was

made by Mr Alok Shrivastava Joint Secretary MNRE in

which RPO enforcement status of all states was high-

lighted In the meeting MNRE also requested all SERCs

to demonstrate their commitment on RPO enforcement

so as to give assurance to the investors about regulatory

certainty in RE sector

Following are the consensus evolved in the meeting -

NAPCC target should be adopted for determination

of RPO trajectory on a Pan India basis A fresh study

by FOR to suggest state-wise RPO trajectory with

larger objective of attainment of NAPCC target was

emphasized

Grid integration for renewable energy was recog-

nized as a major challenge POSOCO and select

SLDCs will be invited in the next meeting to under-

stand the implications

Need for incentive for RE rich and poor resource

states was also discussed In this regard a request

has been made to MNRE and MoP to initiate suita-

ble action

The minutes of 40th FOR meeting can be read here

Conclusion -

RPO enforcement and penalty imposition by Ut-

tarkhand and steps taken by other states are encour-

aging At the same time ApTelrsquos guidelines on dis-

allowing roll-forward of RPO in the future when RECs

are available in the market are encouraging and will

help in improving the overall enforcement level

However by no means can these order be considered

as the norm going forward By failing to impose pen-

alty despite recognizing that the roll-forward in 11-12

was inappropriate ApTel has come out with a weak

order and perhaps left scope for SERCs to avoid en-

forcement in the future also

- end of article -

Regulatory Updates

Strong enforcement



UERC maintains its tough stand for non-compliance

of RPO

Uttarakhand ndash the only state in the nation to have im-

posed penalty for non-compliance of RPO has once again

stood by its tough stand in the order dated ndash 22nd Jan

2014 In the order (refer) -

UERC has considered UPCLrsquos non-compliance as wilful

contravention of the direction of the Commission and has

imposed penalty of INR 20000- on the Managing Direc-

tor of UPCL The Commission has also directed UPCL to

comply its pending RPO by March 2014 failure to which

will attract additional penalty of Rs2000Day thereafter

In continuation to this UPCLrsquos MD had filed a review ap-

plication for reconsideration of commissionrsquos directives

After a motion-hearing UERC has held that review appli-

cation does not qualify as UPCL failed to substantiate any

ground for review or highlight any errors therein

However UERC taking note of this has given UPCL anoth-

er opportunity for paying the amount of INR 20000 with-

in one week ie by 30th April 2014

UPCL in the hearing has clarified that it plans to meet the

RPO of FY12 and FY13 in four monthly instalments The

penalty of INR 2000 per day applicable for non-payment

will continue to be in force post 30th April 2014

The order is available here

UERC order on RPO compliance for co-gen based

CPPs

Uttarakhand Electricity Regulatory Commission (UERC) on

April 10th 2014 released a joint order in case of 9 captive

power producers having co-generation units The peti-

tioners (CPPs with co-gen plants) in reply to show-case

notice issued by commission (UERC) on 12th March 2013

had prayed to relax the RPO regulations since they had

co-gen units and in support referred to ApTelrsquos judge-

ment (2010) in case of Century Rayon vs MERC where it

was pronounced that co-generation unit cannot be fas-

tened with RPOs

UERC had recently (28th Dec 2013) made amendment to

prevalent RPO regulations of 2010 In this amendment

the definition of obligated entity was modified from -

ldquoldquoObligated Entityrdquo means the distribution licensee cap-

tive user and open access consumer in the State which is

mandated to fulfil renewable purchase obligation under

these regulationsrdquo (2010)

to


tive user (excluding co-generation based captive power

plants) and open access consumer in the State mandat-

ed to fulfil renewable purchase obligation under these

regulationsrdquo (2013)

UERC is of the view that all CPPs having co-gen units will

necessarily have to comply with RPO targets of FY12

FY13 and FY14 (upto 27th Dec 2013) ie till the time the

amendment was introduced However from 28th Dec

2013 onwards there will be no obligation on CPPs with

co-gen units All such CPP with co-gens are asked to

meet with RPOs by 31st May 2014 and submit compli-

ance report by 10th June 2014

UERC also clarified that all other captive users will con-

tinue to be regarded as ldquoobligated entityrdquo and such CPPs

have to fulfil shortfalls by 30th April 2014 and submit

compliance report by 10th May 2014

The petitionerrsquos prayer to quash such show-cause notice

letters was also dismissed

Indiarsquos largest REC Trading Company

Regulatory Updates

Strong enforcement



The order can be read in detail by clicking here

Our previous blog-post on UERCrsquos landmark order on pe-

nalization on UPCLrsquos MD can be accessed here

Karnataka APPC for FY 2014-15

Karnataka electricity regulatory commission (KERC) has

finalized the average pooled purchase cost (APPC) for FY

2013-14 The finalized APPC of FY14 is Rs 314 per unit

on the basis of audited accounts data furnished by ES-

COMs which is up by 7 paise Our previous blog-post on

APPC of FY14 can be read here

In the interim since ESCOMs will take some time in final-

izing power purchase quantum and cost of FY15 the

commission has set up Rs 314 per unit as an interim

APPC rate to be effective from 1st April 2014 to 30th June

2014 It is expected that by end of June a new and final

APPC rate for FY15 will be declared

Karnataka therefore becomes the first state in current FY

to declare APPC for FY15 The APPC rates in Karnataka

have had an increasing trend which is good specifically

for RE generators wanting to explore REC markets in the

state

A gazetted copy can be accessed here

KERC had also invited comments and suggestions for fi-

nalization of APR Fy13 and ARR of FY15 filed by discoms

and KPTCL The public hearing was scheduled to be con-

ducted during end of April 2014 as per notice

MNRE favours REC markets for Solar Power

Indiarsquos ministry of new and renewable energy (MNRE) is

favouring REC markets for development of solar power

Eminent members of the ministry are of the view that so-

lar REC markets will revive soon as they expect buyers

jumping in This optimism is when physical solar power

comes at a lower cost as compared to buying solar RECs

(floor price ndash Rs 93 per REC) That means obligated en-

tities have less motivation paying for higher solar REC

cost than physically procuring it

Also solar floor and ceiling prices have been fixed upto

FY2017 The steep declining trend in cost of solar power

makes it more difficult for solar REC markets and de-

mands quick revision of these prices

Recently Shri Upendra Tripathy who has assumed charge

as Secretary of MNRE spoke at a gathering that process

is ongoing for a policy review with the FOR (forum of

regulators) and CERC (Central electricity regulatory com-

mission) Mr Tarun Kapoor Joint secretary MNRE has

also asked all states to strictly meet the stipulated tar-

gets It is being anticipated that a new policy for solar

REC markets will be put in place as soon as a new gov-

ernment is formed at the centre

FOR has also called for engagement of consultants to

review the REC mechanism completely

Media article can be read here

Delhi discoms likely to comply with RPO by pur-

chase of RECs

Delhi discoms ndash BRPL BYPL and TPDDL have all filed a

petition to Delhi electricity regulatory commission

(DERC) for approval of annual revenue requirement

(ARR) of FY 2014-15

In terms of renewable energy resource capacity Delhi is

indeed poor as compared to other states Therefore to

comply with RPO targets obligated entities in the state

have lesser options than to buying RECs from the mar-

kets

Following are the cost estimates for purchase of RECs


Regulatory Updates

Strong enforcement



submitted by discoms (for FY2014-15)-

BRPL ndash Rs 283 cr (Solar RPO) amp Rs 907 cr (Non-Solar

RPO)

BYPL ndash Rs 154 cr (Solar RPO) amp Rs 562 cr (Non-Solar

RPO)

TPDDL ndash Rs 1754 cr (Solar RPO) amp Rs 7471 cr (Non-Solar

RPO)

The petitions can be downloaded from DERCrsquos website

Captive power plant of Bokaro Steel Plant is co-gen

Jharkhand ERC

In an order dated 24th March 2014 state electricity regu-

lator of Jharkhand (JSERC) is of the view that the captive

power plant of Bokaro Steel Plant (a unit of Steel Authori-

ty of India) can be regarded as a co-generation plant This

means that power consumption from CPP of BSL will

qualify towards fulfilment of RPO set under relevant regu-

lations of JSERC

BSL had prayed JSERC to

1 Declare its CPP of 302 MW as co-generation power

plant

2 Exempt BSL from applicability of RPO and

3 Waive the RPO applicable on consumption of power

from its CPP during FY11 FY12 and FY13

CPP of BSL fulfils the definition of CPP as BSL has 50 eq-

uity in the plant and consumes 100 of power generat-

ed

JSERC also considered APTELrsquos judgement in the case of

MERC vs Century Rayon where in it was declared that fas-

tening of RPO on would defeat the objective of section

86 (1) (e) of the Indian Electricity Act

JSERC has RPO targets defined till FY16 It has a total of

4 RPO (1 solar amp 3 non-solar) for all three years

FY14 FY15 amp FY16

BSL also is a distribution licensee in Jharkhand As per

data furnished in the order total RPO applicable on BSL

for consumption of captive power comes around ndash 648

MW of non-solar and 17 MW of solar RPO

The order can be accessed here

- end of article -


REC Trade Report - April 2014

Strong enforcement



Non Solar RECs

April 2014 was the first month of compliance year FY 2014-15 As expected the volumes in non-solar and solar

REC markets nosedived as compared to last months trading session The REC inventoryrsquos closing balance stood at a

mammoth 66 million RECs The total RECs redeemed in April 14 were 80343 RECs only The RECs issued this

month was again a 7digit number ndash about 11 million RECs Cumulatively Marchrsquo14 and Aprilrsquo14 alone added over

3 million RECs which is 23 of the total RECs issued till date This escalation in supply side and almost no demand

side participation sums the state of current Indian REC market place

Demand dropped by 88 and supply was up by 32 wrt Marchrsquo 14 Price of non-solar RECs remained at floor

price ndash INR 1500 per REC Total non-solar redeemed were 79354 (as per REC registry)

More details can be read on our blog-post on REC Trade Report ndash April 2014


For past trading history - CLICK HERE


Strong enforcement

likely in FY15 About REConnect Green News REC Project Stats REC Trade Report

Regulatory

Updates


Solar RECs

Price of solar REC continued to trade at floor (INR 9300 per REC) for a consecutive 11th month Demand fell to less

than 1000 and supply rose by 22

Clearing ratios at both exchanges were close to half percent (05) only As per registry solar RECs redeemed in

April14 was 989




REC Project Status - As on April 5th 2014

Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068

Green News - National

Strong enforcement




Solar projects India says no to US on dispute settlement panel

India has rejected USrsquos request for a dispute settlement panel at the World Trade Organisation (WTO) over manda-

tory domestic sourcing norms in solar projects on the ground that more discussions were required If the US makes

a second request to the Dispute Settlement Body of the WTO for a panel as is likely New Delhi will not be able to

reject it again as per existing rules Source The Hindu Businessline

Wind Energy generation picks up in TN

Wind energy generation has picked up in the past three days and is expected to gain momentum in the coming

weeks Sources in the wind energy sector say winds picked up from April 10 to 17 and dropped for a few days It

had been going up again during the last three days About three million to 10 million units is consumed a day in

the State This year too winds have set in April and will pick up in the next few days The State has 7300 MW of in-

stalled wind energy capacity Of this nearly 90 MW was added in the last year The total capacity consists of 11900

wind turbines and 110 pooling stations Consumption of wind energy in 2013-2014 was just 9000 million units as

against more than 11000 million units the previous year Source The Hindu

Future bright for a shining industry

If you look closely at Indiarsquos solar sector you are bound to conclude that the future is bright For sure little hap-

pened all through 2013 but 2014 promises a lot Why One can broadly divide the solar power industry (keeping

aside for the time being the manufacturing side) into three broad categories First the large MW-scale plants

These produce electricity that is relatively more expensive but costs are coming down The primary role of these

large plants is to develop the industry create the eco-system provide the scale for costs to come down

Source The Hindu Businessline

Loss for big power projects is gain for renewables

Policy hurdles for big power projects are proving to be blessing in disguise for small renewable energy projects

Domestic lenders are turning to these green ventures to grow their books as many big projects in the non-

renewable sector continue to face operational bottlenecks Banks have funded several projects in the renewable

energy space especially special purpose vehicles formed by private equity firms over the past few months

Source Financial Chronicle

BESCOM implementing net-metering system for solar rooftop panels

The Bangalore authorities have already started work on net metering to enable individual households to put solar

panels on their rooftops and sell extra solar electricity to the Bangalore Electricity Supply Company Lim-

ited (BESCOM) The company will soon provide its consumers with rooftop solar units to contribute to power sup-

ply and also gain from it In this regard BESCOM has invited bids from manufacturing firms who are in the field of

manufacturing bidirectional (DLMS protocol) (single phase three phase CT operated) meters Source KNN Bureau

Time to tap Solar power on a priority basis

India is slowly building upon its installed solar power capacity thanks to the comprehensive and ambitious Ja-

waharlal Nehru National Solar Mission (JNNSM) state solar policies and relatively increased enforcement of the Re-

newable Purchase Obligation The country added almost 950 megawatts (MW) of solar power capacity between

April 2013 and March 2014 However there are clear indicators that the solar energy sector is beset with several

problems that need to be sorted out to allow it to expand to its potential Source Indian Express

Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement

likely in FY15 RPO Map Green News REC Project Stats REC Trade Report Regulatory Updates


BESCOMMESCOM CESC - 10 + 025 HESCOM GESCOM Hukkeri Society - 7 + 025

Status of Regulation - Final for all states except -

Draft for Rajasthan Tamil Nadu Haryana Tripura Goa amp UT

Final (till FY14) - Manipur amp Mizoram

Final (till FY13) - Uttar Pradesh Meghalaya Nagaland

RPO on OA Users - Yes for all states except Tamil Nadu amp West Bengal

Karnataka(500 RPO) - Yes (gt 5MW)

RPO on CPP - Yes for all states except Tamil Nadu amp West Bengal

Gujarat Odisha Haryana Bihar Jharkhand Tripura Karnataka(500 RPO) - Yes (gt 5MW)

RPO Penalty - Yes (RECmax) for all the states

States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)

Andhra Pradesh 475 025 Assam 675 025

Arunachal Pradesh 680 020 Bihar 425 075

Chhattisgarh 600 075 Delhi 595 025 Gujarat 675 125

Haryana 300 025 Himachal Pradesh 1000 025 JampK 525 075 Jharkhand 300 100 Karnataka 1000 025 Kerala 439 025 Madhya Pradesh 600 100 Maharashtra 850 050 Meghalaya 060 040 Odisha 625 025 Punjab 381 019 Rajasthan 750 150 Tamil Nadu 1100 200 Tripura 265 035 Uttarakhand 700 0075 Uttar Pradesh 500 100

West Bengal 435 015 Goa amp UTs 270 060 Manipur 475 025 Mizoram 1475 025

Nagaland 775 025


About REConnect

Strong enforcement



REConnect Energy is Indiarsquos leading renewable energy trading company We provide end-

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

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

manage Renewable Purchase Obligation (RPO) 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 LampT 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

VishalPandyareconnectenergycom

4123 6th Cross 19th Main

HAL 2nd Stage Indiranagar

Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal

VibhavNuwalreconnectenergycom

216 Nirvana courtyard Nirvana

Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai

Rajesh Vaidyula ( +91 9940478306 )

RajeshVaidyulareconnectenergycom

181 (88) 2nd Floor Aarya Gowda

Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )

BhanuTejjareconnectenergycom

Solar Market

Anurag Dhyani

( +91 7760300499 )

AnuragDhyanireconnectenergycom


Mumbai

Ram Kumar ( +919930359992 )

Ramkumarreconnectenergycom

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)

ChetanAdhikarireconnectenergycom

Renewable Regulatory Fund (RRF)

Vineet Shastry (+91 9972290511)

VineetShastryreconnectenergycom

From Managementlsquos Desk

With the start of a fresh compliance year FY 2014-15 the RPO

enforcement seems to be gaining momentum This month

there were some strong directives given by Andhra Pradesh

and Uttarakhand ApTel also gave its judgement pertaining to

RPO in a case between Indian Wind Energy Association and

GERC On the flip side Delhi discoms have requested DERC to

waive FY13 RPO targets Evidently these updates form the main

coverage this month

In the regulatory updates section we have covered APPC de-

clared by Karnataka for FY14 and FY15 Jharkhand ERCrsquos order

on declaration of CPP of Bokaro Steel plant as co-gen and a

few other updates

Demand crashed on both exchanges for both solar and non-

solar RECs This was as expected due to April being first month

of compliance year Our REC trade related analysis is available

in the relevant section

As always we hope this volume to be an insightful read and

look forward to your feedback

- Team REConnect

CO

NT

EN

T

Strong enforcement like-

ly in FY15

Regulatory Updates

REC Trade Results

REC Project Stats

Green News

About REConnect


Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States








below





















their shortfall



the state


























Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States
















states





















DISCOMState

Total amount (in


for RPO compliance

in FY 2014-15

(Source - ARRTariff

Petitions)

Remarks

BRPL -Delhi 119

Non Solar -

INR 907 cr

Solar - INR

283 cr

BYPL - Delhi 716

Non Solar -

INR 562 cr

Solar - INR

154 cr

TDPPL - Delhi 9225

Non Solar -

INR 7471 cr

Solar - INR

1754 cr

JSPL - Chhattis-

garh 1609

Total alloca-

tion for RPO


RPO


RPO

JERC - UTs amp

Goa 5188

Non Solar

RPO - Rs

3006 cr Solar

RPO - 2182 cr


Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States







months bill


ance
























states


The year ahead -














spondents








Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States





1 on Page 2)















emphasized








ble action


Conclusion -













- end of article -

Regulatory Updates

Strong enforcement




of RPO

























CPPs










tened with RPOs








to





















Regulatory Updates

Strong enforcement























state

































chase of RECs




(ARR) of FY 2014-15





kets



Regulatory Updates

Strong enforcement





RPO)


RPO)


RPO)



Jharkhand ERC







lations of JSERC



plant






ed







FY14 FY15 amp FY16






- end of article -



Strong enforcement



Non Solar RECs













Strong enforcement


Regulatory

Updates


Solar RECs




April14 was 989





Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703








Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States








below





















their shortfall



the state


























Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States
















states





















DISCOMState

Total amount (in


for RPO compliance

in FY 2014-15

(Source - ARRTariff

Petitions)

Remarks

BRPL -Delhi 119

Non Solar -

INR 907 cr

Solar - INR

283 cr

BYPL - Delhi 716

Non Solar -

INR 562 cr

Solar - INR

154 cr

TDPPL - Delhi 9225

Non Solar -

INR 7471 cr

Solar - INR

1754 cr

JSPL - Chhattis-

garh 1609

Total alloca-

tion for RPO


RPO


RPO

JERC - UTs amp

Goa 5188

Non Solar

RPO - Rs

3006 cr Solar

RPO - 2182 cr


Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States







months bill


ance
























states


The year ahead -














spondents








Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States





1 on Page 2)















emphasized








ble action


Conclusion -













- end of article -

Regulatory Updates

Strong enforcement




of RPO

























CPPs










tened with RPOs








to





















Regulatory Updates

Strong enforcement























state

































chase of RECs




(ARR) of FY 2014-15





kets



Regulatory Updates

Strong enforcement





RPO)


RPO)


RPO)



Jharkhand ERC







lations of JSERC



plant






ed







FY14 FY15 amp FY16






- end of article -



Strong enforcement



Non Solar RECs













Strong enforcement


Regulatory

Updates


Solar RECs




April14 was 989





Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703








Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States
















states





















DISCOMState

Total amount (in


for RPO compliance

in FY 2014-15

(Source - ARRTariff

Petitions)

Remarks

BRPL -Delhi 119

Non Solar -

INR 907 cr

Solar - INR

283 cr

BYPL - Delhi 716

Non Solar -

INR 562 cr

Solar - INR

154 cr

TDPPL - Delhi 9225

Non Solar -

INR 7471 cr

Solar - INR

1754 cr

JSPL - Chhattis-

garh 1609

Total alloca-

tion for RPO


RPO


RPO

JERC - UTs amp

Goa 5188

Non Solar

RPO - Rs

3006 cr Solar

RPO - 2182 cr


Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States







months bill


ance
























states


The year ahead -














spondents








Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States





1 on Page 2)















emphasized








ble action


Conclusion -













- end of article -

Regulatory Updates

Strong enforcement




of RPO

























CPPs










tened with RPOs








to





















Regulatory Updates

Strong enforcement























state

































chase of RECs




(ARR) of FY 2014-15





kets



Regulatory Updates

Strong enforcement





RPO)


RPO)


RPO)



Jharkhand ERC







lations of JSERC



plant






ed







FY14 FY15 amp FY16






- end of article -



Strong enforcement



Non Solar RECs













Strong enforcement


Regulatory

Updates


Solar RECs




April14 was 989





Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703








Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States







months bill


ance
























states


The year ahead -














spondents








Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States





1 on Page 2)















emphasized








ble action


Conclusion -













- end of article -

Regulatory Updates

Strong enforcement




of RPO

























CPPs










tened with RPOs








to





















Regulatory Updates

Strong enforcement























state

































chase of RECs




(ARR) of FY 2014-15





kets



Regulatory Updates

Strong enforcement





RPO)


RPO)


RPO)



Jharkhand ERC







lations of JSERC



plant






ed







FY14 FY15 amp FY16






- end of article -



Strong enforcement



Non Solar RECs













Strong enforcement


Regulatory

Updates


Solar RECs




April14 was 989





Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703








Strong enforcement



45

Market Share

in REC Trading

PAN

India

Presence

21 GW

Projects under

management

Managing REC

Projects in

16

States





1 on Page 2)















emphasized








ble action


Conclusion -













- end of article -

Regulatory Updates

Strong enforcement




of RPO

























CPPs










tened with RPOs








to





















Regulatory Updates

Strong enforcement























state

































chase of RECs




(ARR) of FY 2014-15





kets



Regulatory Updates

Strong enforcement





RPO)


RPO)


RPO)



Jharkhand ERC







lations of JSERC



plant






ed







FY14 FY15 amp FY16






- end of article -



Strong enforcement



Non Solar RECs













Strong enforcement


Regulatory

Updates


Solar RECs




April14 was 989





Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703







Regulatory Updates

Strong enforcement




of RPO

























CPPs










tened with RPOs








to





















Regulatory Updates

Strong enforcement























state

































chase of RECs




(ARR) of FY 2014-15





kets



Regulatory Updates

Strong enforcement





RPO)


RPO)


RPO)



Jharkhand ERC







lations of JSERC



plant






ed







FY14 FY15 amp FY16






- end of article -



Strong enforcement



Non Solar RECs













Strong enforcement


Regulatory

Updates


Solar RECs




April14 was 989





Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703







Regulatory Updates

Strong enforcement























state

































chase of RECs




(ARR) of FY 2014-15





kets



Regulatory Updates

Strong enforcement





RPO)


RPO)


RPO)



Jharkhand ERC







lations of JSERC



plant






ed







FY14 FY15 amp FY16






- end of article -



Strong enforcement



Non Solar RECs













Strong enforcement


Regulatory

Updates


Solar RECs




April14 was 989





Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703







Regulatory Updates

Strong enforcement





RPO)


RPO)


RPO)



Jharkhand ERC







lations of JSERC



plant






ed







FY14 FY15 amp FY16






- end of article -



Strong enforcement



Non Solar RECs













Strong enforcement


Regulatory

Updates


Solar RECs




April14 was 989





Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703








Strong enforcement



Non Solar RECs













Strong enforcement


Regulatory

Updates


Solar RECs




April14 was 989





Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703








Strong enforcement


Regulatory

Updates


Solar RECs




April14 was 989





Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703








Strong enforcement



Registered Capacity

4213301 MW


Projects Registered

State wise

Projects Registered

Source wise

All figures

in MW

All figures in

MW

Biomass

651455

Small Hydro

25551

Solar PV

42352

Wind

214508 Bio-fuel

Cogeneration

738068


Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703








Strong enforcement










































Read More

Read More

Read More

Read More

Read More

Read More

Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703







Indiarsquos RPO Map

Strong enforcement













States

2014-15 RPO

Obligation

(Non Solar)

2014-15 RPO

Obligation

( Solar)






Nagaland 775 025


About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703







About REConnect

Strong enforcement














website

Contact Details

Bangalore

Vishal Pandya




Bangalore 560008

O 080 - 6547 3383 84

F 080 - 30723571

New Delhi

Vibhav Nuwal



Country Sector 50

Gurgaon 122018

O 0124 - 4103216

F 080 - 30723571

Chennai




Road West Mambalam

Chennai - 600 033

Hyderabad

Bhanu Tejja

( +91 7799874036 )


Solar Market

Anurag Dhyani

( +91 7760300499 )



Mumbai

Ram Kumar ( +919930359992 )


Haware Fanatasia

Business Park

F 159 Plot no 47

Sector 30-A Vashi

Navi Mumbai 400703







India’s Largest REC Trading Company - REConnect · PDF fileon declaration of CPP of...

Documents

Transcript of India’s Largest REC Trading Company - REConnect · PDF fileon declaration of CPP of...