Captive Solar PV Plants under REC Mechanism

Dr. Satish Nair

Managing Director,
Nordic (India), Chennai


Dr. Satish received this B.Tech from IIT Madras in 1984 followed by MS and Ph.D from Iowa State University, USA in 1990. Dr. Satish Nair is currently the Managing director of Nordic India Pvt. Ltd (Chennai). He is a seasoned entrepreneur with twenty years of technical management experience in both USA and India. He was previously chief executive of the Indian subsidiary units for Orbis India and Ojala (India) Engineering, having headquarters in Finland, and contract manufacturers to leading mobile phone and renewable energy OEMs . Prior to these positions, Dr. Nair was in USA managing sales, marketing, and engineering teams in different high technology startups. He founded Nordic (India) Solutions in 2010 to offer project development, EPC services, and manufacturing support to the solar PV industry.

Talk Abstract

The demand to seek alternate sources for power generation remains unabated through most states in India. Many areas in Tamil Nadu are reeling from almost 12-14 hours of power cuts per day, and power deficits are seen to approach about 60%. Industrial production by MSMEs in Tamil Nadu is reported to have decreased by almost 40% due to this power crisis. Most solar PV power plant installations to date have been set up under Central and State government policies. These projects rely on selling the power to the electric utility at preferential feed in tariffs (FiTs) as stipulated under the policy. For projects selected under JNNSM, a reverse auction model was followed, where bidders that offered the highest discount over the CERC stipulated tariff were selected for award. Apart from the FiTs, the REC (Renewable Energy Certificate) mechanism is a new development promoted to facilitate the compliance of Renewable Purchase Obligations. The RPOs are driven by the National Action Plan on Climate Change (NAPCC) that aims at 15% renewable energy in the overall energy mix of India by 2020. In this presentation, the viability of the REC mechanism in the set up captive solar plants and the upcoming developments in solar PV BoP components will be reviewed.


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