Abstract: For promoting Renewable Energy (RE) sources, Government (state and / or central) has set targets of Renewable Power called as RPO (Renewable Power Obligations) to be fulfilled by all obligated entities. Steel industry is also an obligated entity as it consumes power from its own captive sources. To meet the RPO set targets as per Odisha Electricity Regulatory Commission (OERC) Gazette circular (2015), obligated entities will be required to generate and consume RE power from solar source and non-solar renewable sources a fixed percentage of total annual consumption in kilowatt-hours (kWh) generated from captive power sources (CPP). In case, they are not able to meet this requirement, they have to purchase Renewable Energy Certificate (REC) as traded open in the Indian Energy Exchange (IEX) with floor price of solar REC, Rs. 3.5 per kWh.