Only 10 Solar REC’s traded for the1st time

As many as 168,685 renewable energy certificates were traded on the two power exchanges on Wednesday 30 May 2012. The trading session (that is, for May) also saw the first solar RECs traded on the markets.

(RECs are generation-based ‘certificates’ awarded — electronically, in demat form — to those who generate electricity from renewable sources such as wind, biomass, hydro and solar, if they opt not to sell the electricity at a preferentially higher tariff. These certificates are tradeable on the exchanges and are bought by ‘obligated entities’ that are either specified consumers or electricity distribution companies. These obligated entities may either be required to purchase a certain quantum of either green power or RECs. Trading happens on the last Wednesday of each month.)

On the Indian Energy Exchange, 153,125 non-solar RECs were traded for an average price of Rs 2,402. On the Power Exchange of India, 15,550 non-solar RECs were traded for an average price of Rs 2,150.

Indore-based M&B Switchgear, which was recently given India’s first solar RECs, sold 10 certificates today (five in each of the two exchanges) for a price of Rs 13,000, which is close to the ceiling price of Rs 13,400 fixed by the government.

Source: The Hindu Business Line

About Ritesh Pothan

Ritesh Pothan, is an accomplished speaker and visionary in the Solar Energy space in India. Ritesh is from an Engineering Background with a Master’s Degree in Technology and had spent more than a decade as the Infrastructure Head for a public limited company with the last 9 years dedicated to Solar and Renewable Energy. He also runs the 2 largest India focused renewable energy groups on LinkedIn - Solar - India and Renewables - India
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