JOIN USRenewable energy (RE), often talked in glorious terms at seminars and conferences, faces dim prospects in reality, if trading details of power exchanges are any indicatio
n.
Statistics gleaned from the two power exchanges – Indian Energy Exchange Ltd (IEX) and Power Exchange India Ltd (PXIL) – show that supply of renewable energy certificates (RECs) outstripped demand by almost five times, indicating few buyers.
RECs are certificates awarded (in dematerialised format) to those who generate energy from renewable sources like wind, biomass, hydro and solar and sell it to obligated entities like power distribution companies and open access consumers. One REC is equal to 1MWh of energy.
On October 31, 10.12 lakh RECs were offered for sale in the non-solar category at the two exchanges, but only 2.22 lakh were bought, at the floor price of Rs 1500 per REC fixed by the Central Electricity Regulatory Commission.
REC Trading Statistics - Oct, 2012
Bids Non-solar Solar Total
Sell bids 1012660 1876 1014536
Buy bids 222700 3363 226063
Cleared 222700 1791 224491
Sources: PXIL, IEX