In the May trading of REC, as many as 168,685 renewable energy certificates were traded on the two power exchanges and the first solar RECs were also traded on the markets.
On the Indian Energy Exchange, 223,164 non-solar RECs were traded for an average price of Rs 2,402. On the Power Exchange of India, 13,321 non-solar RECs were traded for an average price of Rs 2,460.
336 solar RECs were traded in the Indian Energy Exchange, for an average price of Rs 12,750. On the Power Exchange of India, 6 solar RECs were traded for an average price of Rs 12,506.
Industry observers have noted that the demand for REC continues in a positive manner. However, supply position getting stronger, upward price movement has softened. This also indicates that future price movement would have reasonably high dependence on buy side participation from new players.
There has been a significant jump in Solar REC demand compared to last month. The demand for Solar RECs this month was 9619 (close to 6 times that of last month – from 1642 RECs last month). This would definitely be a very pleasing sign for all potential Solar investors.
“The overall market growth in both solar as well non-solar space seems good. However, it would even more important to get increased participation from large public DISCOMs,” says Mr Vishal Pandya, Director, REConnect, whose clients accounted for 50 per cent of the volumes traded.