With reference to Renewable Energy Certificates, consider following statements

1. It provides an alternative voluntary route to a generator to sell its electricity from renewable sources just like conventional electricity and offer the green attribute (RECs) separately to obligated entities to fulfil their RPO.
2. One REC is created when one megawatt hour of electricity is generated from an eligible renewable energy source.
3. It is traded on two power exchanges — Indian Energy Exchange (IEX) and Power Exchange of India (PXIL), in India.

Select the correct statement.

• It is a market-based instrument to promote renewable sources of energy and development of the market in electricity.
• It provides an alternative voluntary route to a generator to sell its electricity from renewable sources just like conventional electricity and offer the green attribute (RECs) separately to obligated entities to fulfil their RPO.
• One REC is created when one megawatt hour of electricity is generated from an eligible renewable energy source.
• It acts as a tracking mechanism for solar, wind, and other green energies as they flow into the power grid.It is traded on two power exchanges — Indian Energy Exchange (IEX) and Power Exchange of India (PXIL), in India.

By: Shubham Tiwari