Demand for non-solar RECs in India surges in January

Demand for non-solar renewable energy certificates (RECs) in India for the month of January jumped by about 260% on December, reaching 1.52 million of sold units.

REC demand is usually high in the final months of the fiscal year in India, which ends on March 31, because utilities and certain other power consumers rush to buy certificates to meet clean energy obligations.

The total value of REC transactions in January surged to INR 2.45 billion (USD 35.8m/EUR 33.5m) from INR 745 million in December.

Solar REC sales also grew month-on-month, by nearly 50%, to 47,899 sold units.

Under the REC scheme, renewable power producers in India receive credits for the power they produce if they do not take advantage of other incentives. The RECs are traded on the last Wednesday of each month. Because of the huge gap between supply and demand, credits have been trading at bottom prices for many months.

(INR 100 = USD 1.47/EUR 1.37)

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