IEX Trades 2.24 Million Renewable Energy Certificates in Q1 2022

The Indian Energy Exchange (IEX) traded 2,249,517 renewable energy certificates (RECs) in the first quarter of 2022. They include 1,636,973 non-solar RECs and 612,544 solar RECs.

There were 933,359 non-solar RECs, and 193,121 solar RECs traded in January. The exchange discovered a price of ₹2,300 (~$30) per certificate for solar RECs and ₹1,000 (~$13) per certificate for non-solar RECs.

In January, 414 entities participated in trading solar RECs and 496 in trading non-solar RECs. There were 519,327 buy bids and 603,289 sell bids for solar RECs, while for non-solar RECs, there were 933,359 buy bids and 1,671,523 sell bids.

IEX traded 444,295 non-solar RECs and 167,447 solar RECs in February. The exchange discovered a price of ₹2,300 (~$30) per certificate for solar RECs and ₹1,000 (~$13) for non-solar RECs. In February, 410 entities participated in trading solar RECs, while 520 had participated in trading non-solar RECs. There were 548,271 buy bids and 480,891 sell bids for solar RECs. For non-solar RECs, there were 444,295 buy bids and 1,192,954 sell bids.


There were 259,319 non-solar RECs and 251,976 solar RECs traded in March. It discovered a price of ₹2,250 (~$29) per certificate for solar RECs and ₹1,000 (~$13) for non-solar RECs. In March, 430 entities traded solar RECs, and 546 traded non-solar RECs. There were 987,573 buy bids and 422,776 sell bids for solar RECs. For non-solar RECs, there were 259,319 buy bids and 1,190,196 sell bids.

Renewable Energy Certificates Traded at IEX in Q1 2022

IEX resumed REC trading on November 24, 2021, after more than a year. RECs were not traded due to a stay order by the Appellate Tribunal for Electricity in response to petitions filed by several renewable energy associations regarding revision in the floor and forbearance prices.

CERC recently issued ‘Terms and Conditions for Renewable Energy Certificates for Renewable Energy Generation Regulations, 2022.’ According to the new regulations, renewable energy generating stations, captive generating stations based on renewable energy sources, distribution licensees, and open access consumers are eligible to issue RECs. The National Load Despatch Center will implement these regulations.