- At Power Exchange of India (PXIL), the buy bids for over 0.49 lakh RECs and sell bids for over 1.16 lakh units for April
- When one megawatt-hour of electricity is generated from an eligible renewable energy source, one REC is created
Renewable energy certificates (REC) sales went down by 35 per cent to 2.37 lakh units in April compared to 3.68 lakh in April 2019 as per figures from the Indian Energy Exchange (IEX) along with Power Exchange of India (PXIL).
RECs give an alternative route to sell electricity from renewable sources similar to conventional electricity. When one-megawatt hour of electricity is generated from an eligible renewable energy source, one REC is created. IEX recorded Power Exchange of India (PXIL) recorded sales of 0.49 lakh RECs in April when compared to 1.44 lakh earlier. The buy bids were for over 2.1 lakh RECs while the sell bids stood at over 4.54 lakh RECs in April.
Sell bids for over 1.16 lakh units
At PXIL, the buy bids for over 0.49 lakh RECs and sell bids for over 1.16 lakh units for April. The total buy bids at the two power exchanges were over 2.59 lakh units while the sell bids were over 6.7 lakh units. This was due to many generators, many in the commercial segment with open access are interested to sell their power generated at the exchanges. this happens when they are facing a lockdown or drop in demand from their clients.
