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Sale of RECs falls 45 per cent to 1.85 lakh in June

According to reports, sale of renewable energy certificates (RECs) has declined by 45 per cent to 1.85 lakh in June as compared to 3.4 lakh in May.

India has two power exchanges approved by the Central Electricity Regulatory Commission — Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL) — which hold auction of RECs on the last Wednesday of every month.

“The session held at IEX on June 24 saw trade of 1,50,862 RECs (1,28,180 N-Solar and 22,682 Solar RECs) with a market share of 81 per cent,” an IEX statement said.

In the first quarter of this fiscal, total buy from open access and captive consumers saw a jump from 65,611 RECs bought in the first quarter last fiscal to 4,88,464 RECs in April-June in 2015-16, an increase of 645 per cent.

However, the market registered a decrease of 48 per cent over the previous month’s trading session when a total of 2,92,400 RECs (2,11,533 N-solar and 80,867 Solar RECs) were traded, the IEX statement said.

In another statement, PXIL said it has conducted REC trading for June and the total cleared volume on the exchange was 34,631 RECs.

“Prior to today’s auction more than 1.34 crore RECs were available in the market for trade; however, the traded volume is low as this is the first quarter of the year. The traded volumes are expected to increase in the coming months,” PXIL said in the statement.

Last month, the sale of RECs had jumped over five times to 3.4 lakh as compared to 64,134 in April this year on the two power exchanges – PXIL and IEX.

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