Indian Energy Exchange launches trading in Renewable Energy Certificate
Trading in renewable energy certificate launched
NEW DELHI: Indian Energy Exchange (IEX) has announced the launch of trading in Renewable Energy Certificate (REC) on its platform. A total buy bid of 125 non-solar REC and 11 solar REC was received in the first trading session, the country's leading electricity exchange said here in a statement. “This is a great milestone in the history of renewable energy in India. It will create new opportunities for renewable and co-generation power plants,” the statement added.
“IEX is committed to prove its power market acumen by creating a complete marketplace not only for electricity but also for REC market,” IEX Managing Director and Chief Executive Jayant Deo said. “We have some critical mass available with us in the form of utilities from 25 States and four Union Territories, 110 captive generators and over 655 industrial consumers, who are currently participating on IEX for trading in electricity. They will be active in REC market too,” he added. RECs represent the attributes of electricity generated from renewable energy sources. One REC represents delivery of 1 MWh of renewable energy to the grid and all associated environmental benefits of displacing 1 MWh of conventional power. REC trading will be through closed double-sided auction on the last Wednesday of every month.
