The Indian Energy Exchange (IEX), country’s leading electricity exchange, launched trading in renewable energy certificate (REC) on Wednesday.
The company received total buy bid of 125 non-solar REC and 11 solar REC received in the first trading session worth Rs 2 lakh. Five portfolios participated in the first bid on Wednesday. IEX conducts bid in REC on every last Wednesday of the month.
This is a milestone in the history of renewable energy in India. It will create new opportunities for renewable and co-generation power plants.
This has been possible only because of the Central Electricity Regulatory Commission (CERC)’s prompt and positive response towards the mechanism.
Various other statutory bodies like National Load Dispatch Centre (NLDC), Forum of Regulators (FOR), Ministry of Power (MoP) and Ministry of New and Renewable Energy (MNRE) have also come together to provide a strong support for the mechanism. RECs represent the attributes of electricity generated from renewable energy sources.