Little over 36,000 RECs find buyers on IEX this month

Reflecting sluggish demand, just over 36,000 renewable energy certificates were sold this month on the Indian Energy Exchange whereas nearly 50 lakh such certificates were up for sale.
During the session on IEX yesterday, as many as 36,411 non-solar RECs were traded while those in the solar segment touched just 232.
Trading in RECs take place in the country's power exchanges on the last Wednesday of every month.
"In the non-solar segment, 36,411 buy bids and 47,66,941 sell bids were received... In the solar segment, buy bids of 232 RECs and sell bids of 1,87,483 RECs were received," IEX, the country's leading power bourse, said in a statement today.

Together, more than 49.54 lakh RECs were available for sale.
While non-solar RECs fetched a price of Rs 1,500 each, the solar RECs were sold at Rs 9,300 apiece.

An exchange official said there is a huge mismatch between supply and demand in the REC market.
Renewable energy certificates are used as instruments to help entities meet the Renewable Purchase Obligation set by states. One REC is equivalent to 1 MWh of energy generated from renewable sources.
"A total of 752 participants traded in the session with 569 participants in non-solar segment and 183 participants in the solar segment," the statement said.

At IEX, a total of 2,300 participants are registered in the REC segment.
Among them, 697 are Eligible Entities (renewable energy generators) and 1,591 are Obligated Entities (discoms, open access consumers and captive generators).