Ujaas Energy busy brightening REC mechanism

“REC mechanism is one of the best drafted, conceived ideas,” says Vikalp Mundra, Joint Managing Director, Ujaas Energy Ltd.
Ujaas Energy Ltd., established in Indore in 1979, is one of the first companies to install a solar power plant under Renewable Energy Certificate (REC) mechanism. The company has started setting up an innovative offering called as ‘UJAAS Park’ that provides complete plug-and-play solution to the investor for putting up a solar power plant at an affordable cost in time. In an exclusive email interview, Vikalp Mundra shares how REC is going to shape the future of solar power.
Ujaas has pioneered solar REC mechanism. How do you look at the solar REC mechanism in India?REC mechanism is one of the best drafted, conceived ideas. It makes a good business sense which give a much better return which is tax free and linked with power price which will only go northwards in coming years.
The most important part is proper implementation of RPO regime, which can only create a liquid market for REC sale. In India any new concept took time, and the same is with REC. Further, power being a state subject, it moves with the political will power of the state.
How do you select a partner to execute an REC project?We commission REC projects in our park for our investors which are broadly of two categories:

Large Tax Payers: As a tax-planning initiative to claim benefit of accelerated depreciation at 100 per cent.
HNI segment: They invest in power as an asset class in their portfolio of investments. 
What are the tweaks required to make this concept more attractive?We propose following to make REC concept more attractive:

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