Trading of renewable energy certificates (REC) at the Indian Energy Exchange (IEX) touched an all-time high in the November session, with 18.9 lakh RECs being traded under the non-solar category. The number represents a 452% rise month-on-month and more than 12 times the volume traded in November, 2016. One REC, priced at `1,500, is treated as equivalent to 1,000 units of green electricity.
REC trade is a market based instrument designed to facilitate compliance with renewable purchase obligations (RPO). It aims to address the mismatch between availability of renewable energy resources in the states and the requirement of the obligated entities to meet their RPOs. Power distribution companies (discoms) were the major buyers to purchase REC in the November trade session. According to sources, Bihar, Uttarakhand, Maharashtra and Delhi discoms purchased the largest number of RECs. Read More…
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