EKIESL Emerges as India's Largest Corporate Buyer of Renewable Energy Certificate

EKI Energy Services Limited emerged as India's First Largest Private Indian Corporate Buyer of Renewable Energy Certificate (REC) for off-setting the Organizational Carbon Foot Prints, through voluntary participation in last month's REC-trading session on 28th March 2013.

EKI Energy Services Limited (hereinafter referred as EKIESL) had participated as Voluntary REC Buyer in the March 2013 trading session at both the Power Exchanges operational in India - Indian Energy Exchange (IEX) & Power Exchanges of India Ltd (PXIL); to offset its part of carbon footprints. This way EKIESL has stepped forward in support to the Indian government initiatives favoring mitigation of global warming.

The procurement of RECs on a voluntary basis help corporates meet Corporate Social Responsibility (CSR) or Sustainable Development (SD) goals. Without investing to the renewable energy power projects any organization can use RECs to offset their carbon footprints. As per organizational vision "Making Planet Earth a Green Global Society", Board of Directors of EKIESL have decided to opt to purchase REC as one of the tool to set off part of organizational carbon footprints, as informed by Mr. Manish Dabkara , CMD & CEO, EKIESL.

Adding facts, Mr. Anand Kumar Pandey , President - Business Development, EKIESL, has shared that RECs are issued to those generators who have generated electricity through renewable sources like solar, wind, biomass, hydro, municipal solid waste, etc. While these generators receive price for power without any premium towards green source, they receive green premium through RECs. There are two types of RECs available in Indian Market - Solar & Non-solar. Nevertheless, to ensure that the RECs are truly reflecting the green or environmental attributes of power, CERC has issued regulations giving how these generators are accredited & registered and how RECs being entitled/issued and redeemed thereafter.

Further, Mr. Naveen Sharma , AGM - CRM, EKIESL, explained, "REC mechanism is a four stage process, starting from State level Accreditation, to central level registration leading to issuance and trading. The electricity generated through any renewable energy source is being entitled to REC, where 1 REC is equivalent to 1000 kWh energy generation."

"This REC is then purchased by RPO Obligatory members or voluntary members. REC when interpreted in electrical units, can offset the carbon footprint, created through the consumption of electrical appliances, as these electricity is generated somewhere in thermal plants burning coal as a fuel. This initiative, taken by EnKing International; a leading consultant in CDM & REC in India, is first of its kind in terms of volume of REC purchasing in India & it will help other corporates create their vision to become carbon neutral," added by Abhishek K. Mazumdar , General Manager, EKIESL.

Source: http://enkingint.org/

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