As of 2011, the Indian government launched the Renewable Energy Certificates (RECs) system to rapidly increase the share of renewable energy in total energy mix. RECs will become essential for states and utilities in meeting their respective Renewable Portfolio Obligation targets. In fact, Indian states have to cope with fixed RPO targets, also set at the federal level. They decline as follows for the years 2010 to 2015: In 2010, 5% of total energy generated from renewable sources, 6% in 2011, 7% in 2012, 8% in 2013, 9% in 2014 and 10% in 2015. In 2010, some states such as Karnataka and Tamil Nadu exceeded their renewable obligation while others, as Punjab and Haryana, have encountered difficulties in meeting their quota. The latest could therefore purchase renewable certificates from states that have met their RPO compliance and have adequate RE potential. As of March 2011, the National Load Dispatch Center (NLDC) responsible for certifying RE projects had issued 100 RECs to 6 renewable energy projects representing 51.6 MW of total generation capacity, and 23 projects are waiting for NLDC s approval. Eligible projects must represent a minimum installed capacity of 250 kW, commissioned no earlier than April 2010, and are not eligible for a feed-in tariff. India Energy Exchange (IEX) will conduct auctions on the last Wednesday of each month.