Sale of green certificates dips 6.61% to 1.73 lakh in July
Sale of renewable energy certificates (RECs) has declined 6.61 per cent to 1.73 lakh in July compared to 1.85 lakh in the previous month.
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.
According to statements issued by two exchanges, sale of 1,73,223 RECs were recorded yesterday including 1,24,824 RECs at IEX and 48,399 RECs at PXIL. Last month, 1,85,493 RECs were sold at the auction.
“The REC trading session on July 29 at IEX witnessed participation mainly from Captive Power Producers (CPPs) and Open Access consumers while majority of the distribution companies, that have the highest obligation to fulfill amongst all the obligated entities, continued to keep away from the Market,” IEX said in a statement.
It further said that yesterday’s session saw trade of 1,24,824 RECs with an overall market share of 72 per cent.
In comparison to previous fiscals, this fiscal the market started on a high note mainly on account of Supreme Court’s judgement directing the Captive Power Producers to comply with Renewable Purchase Obligation (RPO).