At the India Energy Exchange, only 1.91 lakh renewable energy certificates (RECs) were sold during the trading session of January which was held on January 30. As many as 13.71 lakh renewable energy certificates (RECs) were offered for sale at the India Energy Exchange. The remaining RECs stacked up with the renewable power producers.
The ones sold were at a minimum price of Rs 1,500 per certificate. A REC is a tradable certificate that represents 1000 units of power generated from renewable sources and sold to the grid. State utilities are to buy these certificates from a power exchange like the Indian Energy Exchange (IEX) or the Power Exchange India, to meet their obligation of sourcing certain amount of power from renewable sources in a year.
These certificates, till now, have a life of one year and if they are not sold at the power exchanges during a year they lapse - meaning the non renewable power generators' income from sale of power turn out to be marginal. IEX concluded trade of some 2105 Solar certificates.
In this trading session IEX trading volume went up by more than 10 per cent from the previous trading session. For Solar RECs, buy bids of 40,138 RECs and sale bids of 3356 RECs were received against which 2,105 RECs were cleared at Rs 12,500/REC.
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