The Indian REC market worth Rs.30 crore at present, which is less than a year old is expected to touch Rs. 100 crore by the end of this financial year.
In an article of The Hindu Business line a top official at the Ministry of New and Renewable Energy (MNRE) said “The market for RECs is growing and is anticipated to see trades worth Rs 100 crore on a monthly basis by the end of this year”.
Recently the Ministry of Heavy Industries and Public Enterprises directed all Central Public Sector Enterprises to set up renewable energy projects or voluntarily purchase RECs as part of sustainable development for the year 2012-13. These kind of initiatives will bring more buyers of RECs into the market.
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