Renewable Energy Certificates (RECs) are a policy mechanism to promote renewable energy based power geenration in India. Technologies such as wind, solar PV, solar thermal, biomass and hydro are eligible to earn RECs. Such schemes exist successfully in several parts of the world such as Europe, USA and Australia.

The Indian government's Forum of Regulators has published the list of states that have finalised regulations and preparation for the Renewable Energy Certificate (REC) Trading scheme. States that have made progress on regulations over past one month include Bihar, Assam, Kerala, Madhya Pradesh, Orissa and Tamil Nadu. 

REC is a mechanism being mooted by the Central Electricity Regulatory Commission (CERC) and is likely to play a pivotal role in achieving the target of 10% renewable by 2015 as per India's National Action Plan on Climate Change.
Sources http://www.climate-connect.co.uk

• Project Activity Design
  The Project design document (CDM-PDD) and the Guidelines for completing CDM-PDD including a glossary of terms (Approval, authorization, project particpants etc.) have been developed by the Executive Board on the basis of Appendix B of the CDM modalities and procedures. Project participants shall submit information on their proposed CDM project activity using the Project design document (CDM-PDD).
  
  
• Proposal of a New Baseline and/ or Monitoring Methodology
  The new baseline methodology shall be submitted by the designated operational entity to the Executive Board for review, prior to a validation and submission for registration of this project activity, with the draft project design document (CDM-PDD), including a description of the project and identification of the projectparticipants. more>>

• Use of an Approved Methodology
  The approved methodology is a methodology previously approved by the Executive Board and made publicly available along with any relevant guidance. In case of approved methodologies the designated operational entities may proceed with the validation of the CDM project activity and submit project design document (CDM-PDD) for registration. more>>
  
  
• Validation of the CDM project activity
  Validation is the process of independent evaluation of a project activity by a designated operational entity against the requirements of the CDM as set out in decision 17/CP.7, the present annex and relevant decisions of the COP/MOP, on the basis of the project design document, as outlined in Appendix B. more>>
  
  
• Registration of the CDM project activity
  Registration is the formal acceptance by the Executive Board of a validated project as a CDM project activity. Registration is the prerequisite for the verification, certification andissuance of CERs related to that project activity. more>>

• Certification/ Verification of the CDM project activity
  Verification is the periodic independent review and ex post determination by the designated operational entity of the monitored reductions in anthropogenic emissions by sources of greenhouse gases that have occurred as a result of a registered CDM project activity during the verification period. Certification is the written assurance by the designated operational entity that, during a specified time period, a project activity achieved the reductions in anthropogenic emissions by sources of greenhouse gases as verified. more>>