VPPA framework

The Central Electricity Regulatory Commission (CERC) has notified the CERC (Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation) (First Amendment) Regulations, 2026, revising the renewable energy certificate (REC) framework with the introduction of a structured multiplier system and provisions for virtual power purchase agreements (VPPAs). The amendments take effect from the date of publication in the Official Gazette. They introduce new definitions, including “designated consumer” under the Energy Conservation Act, 2001, “renewable…