In a significant accomplishment, Power Exchange India Limited (PXIL) has triumphantly executed the 139th session of Renewable Energy Certificate (REC) trading. The session, conducted in adherence to the Central Electricity Regulatory Commission (CERC) directives outlined in Order of Petition 379-MP-2024, marked the eleventh session of the fiscal year 2023-24 and the fifteenth auction session under the Central Electricity Regulatory Commission (Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation) Regulations, 2022, which took effect on December 5, 2022.
The trading session, which unfolded under the guidance of the Hon’ble Delhi High Court’s Daily Order dated May 11, 2023, revoking earlier restrictions on the sale of RECs issued before October 31, 2022, witnessed the successful transaction of 0.36 lacs RECs. Prior to the auction, a substantial volume of 177.31 lacs RECs was available in the market for trade.
The trading activities were conducted in two segments. The first segment involved transactions in non-Solar RECs issued before April 1, 2017, with a floor price of Rs. 1,500/MWh, in accordance with CERC’s Order in Petition no 2/SM/2017 dated March 30, 2017. This was covered under Session ID REC2712202301. The second segment encompassed transactions in RECs of various technologies, including Solar, Wind, Hydro, Small Hydro, Biomass, and other types of Renewable sources. This segment was covered under Session ID REC2712202302.
PXIL expressed gratitude to all participants for their unwavering support throughout the year, emphasizing its commitment to serving all market participants in this segment and others in the future. The successful completion of the 139th REC trading session reaffirms PXIL’s position as a key player in the renewable energy market.
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