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Reflecting lower demand, the number of Renewable Energy Certificates (RECs) available for sale outstripped their demand on the Indian Energy Exchange this month.
A total of 31,101 non-solar and 1,754 solar RECs were traded, "with supply far exceeding demand yet again", according to Indian Energy Exchange (IEX).
Non-solar RECs saw just 31,101 purchase bids whereas the sale bids stood at 18,72,449 during this month's trading session held yesterday, it noted.
These certificates were sold at a price of Rs 1,500 each.
"For solar RECs, buy bids of 1,754 RECs and sell bids of 23,338 RECs were received against which 1,754 RECs were cleared at Rs 9,300 per REC," the leading power exchange said in a statement.
The latest trading session saw participation of 736 entities, of which 601 took part in the non-solar segment.
"On an overall basis, a total of 1,927 participants are registered in the REC segment at IEX.
"Of this, 486 are eligible entities (RE generators) 1,428 are obligated entities (discoms, open access consumers and captive generators) and 13 are registered as voluntary entities," the statement said.
Trading of RECs is conducted on the last Wednesday of every month on the country's power exchanges.
One REC is equivalent to 1 MWh of energy generated from renewable sources.
