REC could be purchased by the obligated entities. REC could also be purchased by entities other than obligated entities on voluntary basis. Source: https://www.recregistryindia.nic.in/index.php/publics/faqs
a) There are two categories of RECs, viz., solar RECs and non-solar RECs.Solar RECs are issued to eligible entities for generation of electricity based on solar as renewable energy source, [...]
Renewable Energy Certificate (REC) mechanism is a market based instrument to promote renewable energy and facilitate compliance of renewable purchase obligations (RPO). It is aimed at addressing the mismatch between [...]