“This trading session witnessed increased volumes of traded RECs over the previous months with the trade of 72,321 non-solar and 1,983 solar RECs,” Indian Energy Exchange (IEX) said in a statement today.
The REC mechanism was introduced in India in 2010. One REC is equivalent to one megawatt hour of electricity generated from renewable energy sources. Generators of renewable energy have the option of selling the electricity along with the green component or selling only the pure electricity component and selling the RECs separately. In India, the REC market is dominated traditionally by wind energy but that looks set to be changing in the coming years.
In June, 36,147 non-solar and 797 solar RECs were traded.
“For solar RECs, buy bids of 1,983 RECs and sell bids of 12,486 RECs were received against which 1,983 RECs were cleared at Rs 9,300 per REC,” the statement said.
Snapshot of REC trading for the month of July 2013;
Solar RECs
| Buy Bids | Sell Bids | Volume Traded | Price -Rs. per REC | Trade Value Rs. Crores | |
| IEX | 1,983 | 12,486 | 1,983 | 9,300 | 1.84 |
| PXIL | 46 | 9,194 | 46 | 9,300 | 0.04 |
| Total | 2,029 | 21,680 | 2,029 |
| 1.88 |
Non-Solar RECs
| Buy Bids | Sell Bids | Volume Traded | Price -Rs. per REC | Trade Value Rs. Crores | |
| IEX | 72,231 | 16,76, 875 | 72,231 | 1,500 | 10.84 |
| PXIL | 89,081 | 9,87,886 | 89,081 | 1,500 | 13.36 |
| Total | 1,61,312 | 26,64,761 | 1,61,312 |
| 24.20 |
The entire process of REC issuance goes through following stages; 1) Accreditation by state agency, 2) Registration by central agency, 3) Issuance by central agency and 4) Trading on power exchanges. Read more here.
Reference and further reading;
REC registry website
Read more on REC mechanism –Regulation chronology, Stages ,Cost involved and Registered capacity
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