Scope II Emissions: Scope II emissions are indirect Green House Gas (GHG) emissions associated with the purchase of electricity, steam, heat, or cooling.

Reduce energy costs: Currently, the cost of cleaner form of energy especially wind and solar power is lower than the cost of conventional form of energy. Adopting cleaner of energy thereby can help reduce the cost of energy.

Improve Customer Appeal: A recent report commissioned by World Wide Fund for nature (WWF) revealed that Consumers are changing their behaviour, with searches for sustainable goods increasing globally by 71% since 2016. In India, there is a 190% increase in engagement and awareness about the devastating impact of the loss of nature. In a 2019 online survey, 50% of respondents worldwide said they switched products or services because a company violated their values related to nature. Adopting cleaner form of energy, thereby, help promote customer appeal of the business.

Cater to Regulatory Requirements: C&I can claim the green power against regulatory requirements such as Renewable Purchase Obligations (RPOs) as imposed by local DISCOMs for open access / captive power purchase. Considering C&I establishment contributes to half of India’s power consumption, adopting cleaner form of energy by C&I can help meet India its clean energy targets.

We have multiple offerings including Solar, Wind, Hydro, Hybrid and RTC which can be customized to suit the requirements of the C&I establishment.

My Green: Consists of onsite solar solutions, this solution can maximize savings by utilizing unused plant space, including rooftops. Though this solution is very cost effective, it has a low greening potential of 0-5% of your energy. All the states have mature policies and regulations. The tech is also mature but is limited to the physical space available inside the facility making this solution an easy win and the first step in your greening journey.

Green Touch: Consists of pure-play solar / wind Open Access solutions. This solution has a limited greening quotient of around 20-30%. The power reliability is intermittent in nature whereas the technology is mature given that the solutions have been around for a long time. Cost savings are limited in this solution due to the lower amount of power they are able to replace. However, most of the states in India have mature regulatory policies around this solution

Green Advanced: Consists of Open Access solution blending wind & solar to achieve higher greening of around 50-70%. ReNew’s proprietary solution engine achieves higher RE units per MW of PPA while maximizing savings. The power reliability is intermittent in nature whereas the technology has been pioneered by ReNew to maximize the output. High cost savings for clients in this solution due to the higher amount of power they are able to replace. Considering this solution has recently picked traction among customer, most of the states are in process of releasing policies around this solution.

Green Pro: ReNew’s cutting-edge open access solution-integrating hybrid plant with upcoming sources hydro / green hydrogen / exchange. ReNew’s proprietary solution engine ensures reliable round-the-clock green power with 100% reliability and 80-90% of greening. Evolving tech for bundled source (~20-30% component) while replacing a larger quantum with higher overall cost savings. This solution is especially suitable for Data centers seeking round-the-clock power and high degree of greening.

Green Max:Virtual contracts to offset brown power. ReNew’s provides 100% unbundled green attributes. No physical setup changes needed with plants already entering execution phase. 100% greening can be achieved with this solution. Two solutions are currently prevalent in this category: International Renewable Energy Certificates (I-RECs) and Virtual Power Purchase Agreement (vPPA). Limited savings in solution. Caters more to voluntary or regulatory requirements of greening. I-RECs has a more mature regulation around it compared to the evolving regulations surrounding vPPAs.

There are many factors that help our expert assessor to arrive at a solution. Our proprietary proposal calculator can indicate the best option for you. For details, please contact us.

Greening potential/ quotient is the percentage of energy the client is procuring from green sources. The higher your greening quotient, the more sustainable you are.

The definition of Open Access in the Electricity Act, 2003, is “the non-discriminatory provision for the use of transmission lines or distribution system or associated facilities with such lines or system by any licensee or consumer or a person engaged in generation in accordance with the regulations specified by the Appropriate Commission”.

According to sub-section 2, of section 42 of the Electricity Act 2003, electricity consumers now have the right to procure power from the supplier of their choice other than the distribution company that they were buying from. They can use the existing transmission and distribution infrastructure after paying appropriate charges determined by their respective State Electricity Regulatory Commissions (SERCs)

vPPA, being a financial contract, does not affect the traditional electricity supply for an organization directly. The organization continues to purchase electricity from the utility, in addition, enters the vPPA for RECs to meet its clean energy obligations.

Organizations exploring the vPPA structure are typically focused on sustainable business practices, reducing carbon footprint, and investing in renewable energy. Just as with any investment, the impact of these “green” initiatives is important in evaluating their true return of investment. For example, purchasing unbundled RECs is a low impact solution for achieving renewable energy goals. These RECs are easily attainable, may come from new or existing resources anywhere in the county, from any “renewable” energy resource.

Unlike a traditional Unbundled REC purchase, which always costs money, the vPPA swap provides RECs at a price determined by the net difference between the fixed vPPA Price and the wholesale market price. A positive difference between the market price and the fixed vPPA price can lead to significant positive cash flows while ensuring issuance of RECs.

By entering a long term Synthetic PPA, the buyer is locking in a price for Bundled RECs based on the wholesale market price of electricity. If wholesale electricity prices rise, then the buyer’s conventional energy supply costs is also expected to rise. The buyer in that scenario, may make money on the vPPA deal which can offset the higher energy costs. Conversely, if the VPPA price is greater than the wholesale market price, the buyer will be paying the net difference to the project to provide their required fixed revenue stream.

We need to first understand what PPAs are before moving to vPPAs.

A power purchase agreement (PPA) refers to electricity supply agreement between a power producer and power buyer. The PPA refers to all of the commercial terms for the sale of electricity, including when the project will begin commercial operation, schedule for delivery of electricity, penalties for under delivery, payment terms, and termination.

A Virtual Power Purchase Agreement (vPPA), also known as a Synthetic PPA, is a popular type of renewable energy contracting structure that provides a financial hedge against future energy fluctuations. With a virtual PPA, the energy doesn't physically flow from the project to the buyer. It is merely a financial contract, which is why it's often referred to as a "financial PPA". In a vPPA, the energy is sold on the wholesale electricity market and the vPPA buyer will get RECs by paying a difference between vPPA price and wholesale market price (in some cases, the buyer may also receive the money back from the generator in case the wholesale market price is higher than the vPPA price). The buyer continues to get their electricity from their utility company at their utility's rate.

An I-REC (International Renewable Energy Certificate) is a type of Energy Attribute Certificate (EAC), which represents one megawatt hour (MWh) of electricity produced by renewable sources. Organizations exploring the vPPA structure are typically focused on sustainable business practices, reducing carbon footprint, and investing in renewable energy. Just as with any investment, the impact of these “green” initiatives is important in evaluating their true return of investment. For example, purchasing unbundled RECs is a low impact solution for achieving renewable energy goals. These RECs are easily attainable, may come from new or existing resources anywhere in the county, from any “renewable” energy resource. Unlike a traditional Unbundled REC purchase, which always costs money, the vPPA swap provides RECs at a price determined by the net difference between the fixed vPPA Price and the wholesale market price. A positive difference between the market price and the fixed vPPA price can lead to significant positive cash flows while ensuring issuance of RECs. By entering a long term Synthetic PPA, the buyer is locking in a price for Bundled RECs based on the wholesale market price of electricity. If wholesale electricity prices rise, then the buyer’s conventional energy supply costs is also expected to rise. The buyer in that scenario, may make money on the vPPA deal which can offset the higher energy costs. Conversely, if the VPPA price is greater than the wholesale market price, the buyer will be paying the net difference to the project to provide their required fixed revenue stream.

Like all EACs, I-RECs enable companies to credibly demonstrate renewable energy consumption and report lower Scope 2 emissions. I-RECs are particularly useful to companies with global operations and a target to source 100%. As corporate renewable energy procurement and reporting on energy use and emissions faces increasing scrutiny, procuring bundled RECs will be the best practice for meeting corporate renewable energy goals.

The I-REC Standard operates a single global registry through which energy products from renewable sources can be certified through the electricity supply chain. Established in 2014, it provides an electricity attribute tracking system that can be introduced to any country. It is a non-profit foundation based in the Netherlands with the goal of empowering electricity purchasers with the ability to make renewable consumption choices in any region of the world. The I-REC Standard is acknowledged by major reporting frameworks such as the Greenhouse Gas Protocol (GHGP) and Carbon Disclosure Project (CDP) as a reliable backbone for credible and auditable tracking instruments. It ensures the highest quality systems and adherence to best practices designed to avoid double counting, double certificate issuance, and double attribute claims.

RGS act as a single point of contact for its clients to handle any regulatory and accounting issues related to the clean energy solution provided by the RGS. RGS leverages ReNew’s strong regulatory team for the same. Accounting and billing is carried out by our highly skilled customer operations team with industry best energy accounting practices along with highly customized commercials.