You are on page 1of 2

Update on the Solar REC Market (November 2012

)
CERC in 2010 announced the renewable energy certificate scheme under which a generator gets an opportunity to earn RE certificate on generation of 1 MWh of electricity apart from the physical form of energy. The scheme has been categorized into Solar and Non-solar RECs. The projects registered under solar RECs have been listed below. Till date about 20 MW of solar capacity have been registered under the REC scheme. Of which M & B Switchgear’s, Gupta Sons, Omega Renk Bearings Pvt. Ltd. & Kanoria Chemical’s aggregate capacity of 5.05 MW solar project has been commissioned and issued RECs from NLDC. Almost 5549 Solar REC have been issued till date and 5080 Solar RECs have been redeemed till 31 st Nov 2012. The Solar RECs got traded in last 7 months only. The statistics for the same is mentioned in table in table below. Lists of Projects accredited under Solar RECs Sr No . 1 2 3 4 5 6 7 8 9 Company Name R. H. Prasad & Company Private Limited Enrich Energy Pvt. Ltd. Jaibalaji Business Corporation Pvt. Ltd. M/S Gupta Sons Omega Renk Bearings Pvt. Ltd. Kanoria Chemicals and Industries Ltd. Numeric Power System Ltd. M AND B Switchgears Ltd. Jain Irrigation Systems Ltd. State Rajasthan Maharashtra Maharashtra Madhya Pradesh Madhya Pradesh Rajasthan Tamil Nadu Madhya Pradesh Maharashtra SNA RRECL MEDA MEDA MPUVNL MPUVNL RRECL TNEDA MPUVNL MEDA Total Capacity (MW) 0.25 1 1 0.5 0.105 5 1.055 2 8.5 19.41 (Source: REC Registry as on 03.12.2012, NLDC) Date of Accreditation 31-08-2012 06-12-12 06-06-12 05-09-12 05-09-12 28-03-12 20-07-12 02-03-12 20-10-11 Date of Registration N/A N/A 25-06-12 22-05-12 14-06-12 20-04-12 04-10-12 04-04-12 22-05-12

.

Page 1 of 2

the prices show a declining trend as the supply of RECs is gradually increasing. of RECs) 5 5 336 6 93 86 129 250 735 425 820 971 733 486 5080 (Source: 3rd December 2012. . Though. Page 2 of 2 ./REC) 13000 13000 12750 12506 12800 12800 12850 12850 12500 12900 12680 12500 12720 12100 12610 MCV (No. IEX & PXIL) It is observed that the price of solar RECs have remained close to forbearance price as buy bids have been significantly higher than sell bids.Update on the Solar REC Market (November 2012) Trade of Solar RECs at Exchanges Month Exchanges IEX May PXIL IEX June PXIL IEX July PXIL IEX August PXIL IEX September PXIL IEX October PXIL IEX November Total PXIL Buy Bid (REC) 1637 5 9489 130 8554 200 1728 603 1317 525 1263 2100 1458 1120 30129 Sell Bid (REC) 149 100 541 22 419 130 310 250 1094 527 864 1012 758 930 7106 MCP (Rs.