According to reports, NSE-listed Orient Green Power Ltd, a wind and biomass IPP, earned Rs 2.4 crore last month selling 6,000-odd renewable energy certificates (REC) in the market in last month’s trading session. Business Line learns that the company has in its hand another 10,000 REC and is sure of securing another 8,000 soon.
Thus, in the next two trading sessions (that is for February and March), Orient Green will be able to encash at least 18,000 RECs.
Assuming a price of Rs 3,000 an REC these are worth Rs 5.4 crore, taking the total inflow from RECs to Rs 8 crore. In the first two quarters of the current year, the company achieved a turnover of Rs 128 crore and made a (consolidated) net profit of Rs 5.47 crore.