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The renewable energy certificates (RECs) has achieved a record trading figure in the 16th trading session of India energy exchange (IEX) as 2, 48,165 RECs were issued out of the 3, 99,865 RECs that were available for sale – the highest issuance for any month till date.
In the non-solar segment, IEX received buy bids of 3, 13,973 certificates and sell bids of 3,30,371 certificates against which 2,23,164 non-solar RECs were cleared at Rs 2,402/REC. IEX also received buy bids of 9,489 Solar RECs and sell bids of 541 solar RECs against which 336 solar RECs were cleared at Rs 12,750/REC.
RECs are generation based certificates issued to the power producers using renewable source of energy such as solar, wind, hydro, small hydro and biomass. While solar RECs are for solar power producers, the non-solar one are for all other renewable energy sources. RECs are electronically in demat form and are given to the producers who do not wish to sell the electricity produced at preferential tariff.
This month trading saw many high’s being achieved in terms of maximum cleared volume (2, 23,500), maximum cleared non-solar volume (2,23,164), maximum cleared solar volume (336), maximum non- solar sell bids (3, 30,371) and maximum solar sell bids (541). The cleared volume saw an increase of 46%. The total trade value was Rs. 54 Cr, an increase of 47% over the previous session.
The high volume of RECs traded is a pointer of rush among entities to fulfill their RPO obligation. “It is a matter of high satisfaction for us that the Exchange has not only established a stable and vibrant energy trading market in India but could launch new and innovative products such as Renewable Energy Certificates (RECs) during this four-year period of our operation”, said Mr. Jayant Deo, MD & CEO, IEX.
Mr. Deo said, going forward, the Exchange would strive to achieve more conducive policy environment in the energy sector in order to maximize the advantages of power trading to a large section of the society, especially the SME sector.
Source: ET
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