It was yet another lacklustre month of trading in renewable energy at the two power exchanges, with few takers for renewable energy certificates (RECs), especially in the non-solar category.
Data released by Indian Energy Exchange Ltd (IEX) and Power Exchange India Ltd (PXIL) for November 2012 revealed that of the 12.30 lakh non-solar RECs offered for sale, only 1.32 lakh RECs were bought at the floor price of Rs 1500 set by the Central Electricity Regulatory Commission.
In the solar category, 1,219 RECs were cleared at Rs 12,100 and Rs 12,720 at PXIL and IEX respectively. Trading in October was a tad better; 2.22 lakh non-solar RECs and 1,791 solar RECs were bought at the two exchanges. In September, 2.64 lakh RECs in non-solar and 1,160 in solar category were purchased.
RECs are certificates in dematerialised format awarded to those who generate electricity from renewable sources like solar, hydro, biomass and wind and opt to sell it at the power exchanges.
These certificates are bought by “obligated entities” that are generally power distribution companies, open access consumers and captive power producers. One REC is equal to 1MWh of energy.
IEXaccounted for 75 per cent of RECs offered for sale in non-solar category, though 58 per cent of the RECs were cleared in PXIL.