REC arm makes move for carbon market play

REC's consulting arm plans to enter the carbon markets business as an accredited carbon verification agency and has invited expressions of interest to empanel agencies under the Indian carbon market, which is expected to become operational in 2026.

The empanelled agencies will undertake validation and verification work through verifiers and sector experts for compliance and offset mechanisms under the scheme.

The deadline for submitting expressions of interest is May 22.


The power ministry had established the Indian carbon market framework under the Carbon Credit Trading Scheme, 2023.

The Bureau of Energy Efficiency, the market administrator under the scheme, is responsible for accrediting carbon verification agencies for validation and verification activities.

REC Power Development and Consultancy (RECPDCL) provides bid process coordination for transmission and generation flexibility projects, project implementation for smart metering and distribution infrastructure, and consultancy services for central government schemes including the Revamped Distribution Sector Scheme and Saubhagya.

"The company is now expanding into carbon markets as an accredited carbon verification agency," the tender document said.

The compliance mechanism under the carbon market scheme covers verification of greenhouse gas emissions and emission intensity across obligated sectors including aluminium, cement, chlor-alkali, fertiliser, iron and steel, petrochemicals, refineries, pulp and paper, and textiles.