The World Bank, Power System Operation Corp (POSOCO) and REcoonect Energy Trading Company are among the entities that have purchased renewable energy certificates (RECs) on voluntary basis this year.
"In this year, World Bank, POSOCO and REconnect Energy Trading Company became the first entities to purchase Voluntary RECs in January'16 REC trading session," Indian Energy Exchange said in a press release.
Renewable Energy Certificates are the green attributes that allow companies, organisations and individuals to offset theircarbon footprints without investing capital into generation capacities or buying green power.
Voluntary REC market is usually driven by buyers such as organisations & individuals with no specific obligation to purchase RECs and hence no penalty for non-compliance.
Organisations across the globe have been either buying green power or purchasing RECs voluntarily to offset carbon footprints.
As far as voluntary market is concerned in India, it is not even a fraction of compliance market, but entities like World bank, POSOCO, IREDA, Rashtriya Ispat Nigam Limited, Security Printing and Minting Corporation Nigam Ltd, REconnect, Manikaran Power Trading ltd, EKI Energy Services Limited are the few names that have purchased RECs voluntarily to reduce the environmental impact of their business activities.
Any organisation, institution or individual who wants to purchase RECs on voluntary basis, has to register itself with IEX. The registration for such entities is free of cost.
