Giriraj Enterprises Ltd. has announced that they have completed a 33 megawatts of solar power project, which is the largest project under the Indian REC Mechanism.
The Project was built out as three phases, which includes three segments of 19, 11 and 3MW's. The Projects are located in Rajasthan. Also Giriraj has signed a PPA with the
local state-owned electricity Utility.
According to Bloomberg, Giriraj will be selling the electricity at an average price of
2.7 rupees a unit, and expects to trade 53,000
certificates a year.
According to REConnect Energy Solutions, Indian demand for RECs, almost
tripled last month to 435,481 in the run-up to the fiscal year-
end. Solar credits sold for 13,400 rupees apiece on the Indian
Electricity Exchange.
