In accordance with the Electricity Amendment Rules released on December 29, 2022, Grid India has formally declared the implementation of a standardized renewable energy tariff (URET) system, endorsed by the Ministry of Power on October 25, 2023. This endeavor is poised to transform the dissemination of renewable energy throughout the country, commencing with the introduction of two core pools: the 'Solar Power Central Pool' and the 'Solar-Wind Hybrid Central Pool'.

Scheduled to commence operations on February 15, 2024, these pools will operate according to the regulations outlined in Rule 19 of the Electricity Amendment Rules, 2022, subject to potential updates. The objective of the initiative is to integrate solar and solar-wind hybrid projects, tendered after February 15, 2024, in accordance with India's bidding regulations, into their respective pools. A distinctive feature of these pools lies in their operational approach, which adopts a First in First Out (FIFO) strategy. This implies that the capacity from solar and solar-wind hybrid projects, determined by the sequence of their Letter of Award (LoA), will be allocated and utilized in the order they are received.

The deliberate adoption of the URET mechanism reflects India's dedication to bolstering its renewable energy infrastructure, guaranteeing a smooth and fair allocation of renewable resources nationwide. NTPC Ltd, NHPC Ltd, SJVN Ltd, and Solar Energy Corporation of India Ltd are designated as Intermediary Procurers for executing the URET procedures. This step is anticipated to make a substantial impact on India's sustainable energy objectives by enabling a proficient and harmonized distribution of renewable resources throughout the country.