SJVN Limited has issued a letter of award (LoA) to EKI Energy Services Limited for registration, issuance, and trading of international renewable energy certificates (IRECs) for its 1,500 MW Nathpa Jhakri hydro power station (NHPS) project in Himachal Pradesh.
IREC represents transferable proof that one MWh of electricity was produced from renewable energy sources and added to an electrical grid. Purchasing an I-REC allows the buyer to claim consumption of one MWh of renewable energy. IRECs can originate from wind, solar, ocean energy, biomass, hydropower, landfill gas, aerothermal, geothermal, and landfill gas projects. The move is expected to have a significant positive impact on the environment by reducing carbon emissions. SJVN’s NHPS has been registered in the IREC registry mechanism for the period from January 1, 2023, to December 31, 2027. SJVN anticipates an annual revenue of Rs 0.1 billion per annum from I-RECs.