India may let power companies start trading renewable energy credits in May to create a multibillion-dollar market to encourage reductions in greenhouse gas emissions and to boost investment in solar, wind and other clean-energy projects. The plan will require power distributors to ensure that a portion of the electricity comes from renewable sources. If their supply of clean energy falls short, companies must buy certificates from others with surpluses, an incentive for renewable-energy production.

The energy-savings credits will trade on the country’s two power exchanges, creating a domestic market that may rival India’s $4 billion-$6 billion international trade in carbon credit

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