Journey so far
Kreate Energy (I) Pvt. Ltd. is one of the leading real time power solution providers in India. We offer services in the ﬁeld of Power Trading, Energy Saving Certificate Trading and Energy Management to various clients across the country and abroad. Since 2009, we've traded more than 50000 Million Units (MU) for over 35 utilities and 1226 open access clients.
Our Vision and Mission statements are derived from our strategic thinking which include integrated planning & innovation and focused on error free implementation. It determines the direction of the organization to meet the intended goals. Our core values drive the organization’s culture and provide the framework within which the decisions are made. All these factors have helped us grow stronger with time and hence, the current turnover of the Company stands at 2992.49 crores, along with its PAN India and overseas presence.
We work in all the five electricity grid regions and for almost all State Electricity Boards/utilities in the country. Our offerings include short term and long-term products for sale and purchase of power to utilities, generators, industrial and commercial clients. We're a registered trading and clearing member of both the Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL).
Trading of Power and Renewable Energy Certificates (RECs)
A renewable energy credit (REC) also sometimes referred to as a renewable energy certificate or green tag is created for each megawatt-hour (1 MWh, or 1000 kilowatt-hours) of renewable electricity generated and delivered to the power grid. Technologies such as wind, solar PV, solar thermal, biomass, bagasse, black liquor and small hydro are eligible to earn RECs. Central Electricity Regulatory Commission (CERC) has notified regulation on Renewable Energy Certificate (REC) in fulfilment of its mandate to promote renewable sources of energy and development of market in electricity. The framework of REC is expected to give push to RE capacity addition in the country.
A) RECs – Renewable Energy Certificates:
- As a momentous member of both the Power Exchanges, IEX and PXIL, Kreate Energy also facilitates the trading of Renewable Energy Certificates (REC) on the platform of power exchanges.
Kreate Energy is a reputed trader of REC as it ∙
- Has traded more than 68004 RECs ∙
- Trades Solar RECs as well as Non-Solar RECs
Kreate Energy offers following services for REC ∙
- Trading of power and REC’s, green power, through innovative product strategies in bilateral and exchange market ∙
Support customers to prepare and file for REC issuance ∙
- Getting accreditation and registration for the project ∙
- Trading of RECs on power exchange ∙
- Daily reports and updates ∙
- Timely payment to RE generator
B) Kreate Energy provides innovative solution for REC.
- We are developing new products and structures to promote development of renewable energy projects in the country.
- In solar, we are one of the first players to have entered into PPAs for sale of power on open access and sale of RECs.
- We are similarly helping many Bio-mass players in open access sale of power and RECs.
- We have developed specific products for small hydro power trading to ensure better realization and hence increased viability and development of such projects.
Biliteral Power Trading
A transaction for exchange of energy (MWh) between a specified buyer and a specified seller, directly or through a trading licensee or discovered at Power Exchange through anonymous bidding, from a specified point of injection to a specified point of drawl for a fixed or varying quantum of power (MW) for any time period during a month. Electricity Act 2003 has distinguished "Power Trading" as a separate licensed activity with the objective of developing power market in India to maximize resource utilization by promoting healthy competition among power players. For this reason, Power Trading is referred to as "purchase of electricity for resale thereof". CERC/SERCs have prescribed stringent "non-discriminatory open access" regulations and have also granted Inter-State Trading Licensees to 45 companies (as on July 2009). CTU/STUs have also defined detailed open access procedures to promote power trading operations in the country. The demand-supply gap among various utilities during day and month provides opportunities for power trading. With tightening of grid discipline by CERC regulation, the utilities are persuaded to plan their demand-supply gap in advance. This provides power trading a huge potential for growth. At .Kreate, we endevour timely payment for every transaction including energy and transmission charges as per the contract terms. Our payment track record is a testament to our commitment for transparency and timely settlement of accounts.
Banking of Power
Banking means residual electrical energy after utilization by the Exclusive or Partly Exclusive Consumer or captive consumption out of the injected energy in a month into the transmission and/or distribution system of Corporation/ESCOMs, which will be utilized for its own use or for wheeling to its Exclusive or Partly Exclusive Consumers at a later date/month, as per the terms and conditions set forth in agreements.
Meeting Renewable Purchase Obligations (RPOs)
The Renewable Purchase Obligations (RPO) has been the major driving force in India to promote the renewable energy sector. Every Obligated Entity may meet its RPO target by way of (i) Own generation or procurement of power from RE developer or (ii) Purchase from other licensee or (iii) Purchase of renewable energy certificate or (iv) Combination of any of the above options. We conform to all State-wise regulations laid out across India.
Group Captive Power Plants
A group captive scheme is where someone develops a power plant for collective usage of many commercial consumers. The developer should have at least 26% of the equity and has to consume at least 51% of the power produced. The term "captive power scheme" was introduced in the Electricity Rule, 1995.