REC market making green energy sector Go Green!

After successful completion of REC mechanism for one year several companies are planning to enter the green energy sector. In an article of DNA India, the success of emerging REC market is highlighted.
The volume of RECs traded and their prices have grown exponentially and and has brought lucrative opportunities for companies to enter into the renewable energy sector. Apart from wind, small hydro , biomass and solar power producers the sugar industry which makes power from baggase, a residue in sugar production is making huge profit from this mechanism. Cogeneration sugar mills companies such as Dalmia Sugars, DCM Shriram, Balrampur Chini and Shree Renuka Sugars are doing a profitable business by selling their renewable energy certificates.
The growing REC market has led to several private power companies sharpening their focus on renewable energy, which earlier was being pursued just as an opportunity to diversify.