The Indian Energy Exchange (IEX) that accounted for 78% of market share at the Renewable Energy Certificate (REC) trading session 25 September witnessed trade of 38,195 non-solar and 5,880 solar RECs with supply far exceeding demand. The demand for REC continues to remain sluggish as sellers are not witnessing demand for even 2% of their certificates.
One REC represents 1 mwh of energy, which is generated from renewable sources. RECs were expected to become the currency of renewable energy markets because of their flexibility. Also, they are not subject to the geographic and physical limitations of commodity electricity. Electricity distribution companies and others can buy RECs to meet their obligation to promote renewable energy.
In the non-solar segment, buy bids of 38,195 RECs and sell bids of 23, 25,171 RECs were received against which 38,195 were cleared at Rs 1,500 per REC. In the solar segment, buy bids of 5,880 RECs and sell bids of 37,028 RECs were received against which 5,880 RECs were cleared at Rs 9,300 per REC.
The trading session featured 658 participants of which 601 participated in non-solar segment while 159 participated in the solar segment. On an overall basis, a total of 1969 participants are registered in the REC segment at IEX. Of this, 504 are RE generators, 1452 are distribution companies and industrial houses and 13 are registered as voluntary entities.
Source - ET