The numbers for renewable energy certificates traded have seen a big jump compared to last year’s numbers. As many as 256,579 non-solar and 83,189 solar RECs were sold on the two country’s energy exchanges—IEXL and PXIL—roughly four times the volumes seen in April. These RECs were worth Rs. 38.5 crore and Rs. 29 crore, respectively. Comparatively, in May 2014, only 29,555 non- solar RECs and 2,120 solar RECs were sold.
These numbers are unusual for the early months of the financial year—trading in RECs pick up in the last quarter, as the companies mandated to meet their renewable purchase obligations rush to comply before the year is out.
The high numbers have been generally attributed to last week’s judgment of the Supreme Court. The judgment said that companies that had captive power plants were not exempted from the renewable purchase obligations.