MoP Issues Draft Guidelines for Designating Renewable Energy Implementing Agencies

The Ministry of Power (MoP) has issued draft guidelines for designating companies as Renewable Energy Implementing Agencies (REIA) to accelerate the development of renewable energy (RE) projects in India.

The guidelines are aimed at ensuring the smooth functioning of the power procurement process and empowering selected entities to act as market intermediaries in the renewable energy sector.

The guidelines detail eligibility criteria, terms, and conditions for designation and set out the responsibilities of REIAs. A company must meet specific financial and operational requirements, including a valid Category-I electricity trading license, a net worth exceeding INR 500 crore, and a long-term credit rating of 'A' or above. The applicant company must also have board approval for the REIA designation.

Under these guidelines, REIAs will oversee the bidding process for renewable energy projects, handle Power Purchase Agreements (PPAs), and ensure payment security to developers. Procurement must be done exclusively through e-bidding platforms prescribed by the Central Electricity Regulatory Commission (CERC).

While SECI Ltd., NTPC Ltd., NHPC Ltd., and SJVN Ltd. will retain their REIA designation, new entities may apply for the designation under these updated guidelines. The REIA designation will last for five years and may be terminated by the Central Government if performance criteria are not met.

Stakeholders are invited to provide their feedback on the draft guidelines within 15 days of this notice.