NTPC Renewable Energy Floats EPC Tender for 225 MW Solar Projects in Gujarat

Emmvee, Vikram, ReNew Win NTPC REL’s 1.58 GW DCR Solar Modules Auction

ADB Approves $148 Million Loan for Modernization of Sikkim’s Power Distribution

Mahindra & Mahindra Commits ₹120 Billion to EV Expansion by FY 2027

Virtual Meet to Drive Clean Energy Adoption in Jharkhand and Chhattisgarh

O2 Power, Continuum and CleanMax: Top Open Access Developers in 2023

Daily News Wrap-Up: Top Solar Module Mounting Firms in 2023

US Brings Back Tariffs on Imported Bifacial Solar Modules

Enfinity Secures $135 Million for 1.2 GW of Solar and Wind Projects in India

Coal India Subsidiary Invites Bids for 20 MW of Solar Projects in Odisha


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2023/08/amazon_polly_57215.mp3?version=1691409905">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>The Indian Energy Exchange (<a href="https://www.iexindia.com/" target="_blank" rel="noopener">IEX</a>) traded 275 million units (MU) of renewable energy in July 2023, a year-over-year (YoY) decline of 53.3% from 589 MU and marginally increasing from 272 MU in June.</p>
<p>By the end of July, the total traded volume reached 8,522 MU, indicating a year-over-year (YoY) increase of 19%.</p>
<p>During July, the trading price settled at ₹4.55 (~$0.055)/kWh,  a 16% reduction from the previous year. Enhanced liquidity on the sell-side of the exchange platform led to the decline.</p>
<p>The decreased supply situation persisted throughout the month due to strong coal production, decreased costs of e-auctioned coal, and lower imported fuel prices.</p>
<p>IEX anticipates heightened liquidity to yield more competitive pricing, offering additional chances for optimization to distribution companies and consumers with open access.</p>
<p>According to the data published by GRID-India, the energy met in the country during July 2023 stood at 139 BU, an increase of 9% YoY.</p>
<p><strong>Green Market: Day-Ahead and Term-Ahead</strong></p>
<p>In July, the IEX Green Market, encompassing both the Green Day-Ahead and Green Term-Ahead Market segments, traded 275 MU.</p>
<p>Specifically, the Green Day-Ahead Market conducted trades for a volume of 213 MU over the month, achieving a weighted average price of ₹4.95 (~$0.060)/kWh. This segment attracted participation from 200 market players.</p>
<p>The Green Term-Ahead Market traded 62 MU. The average monthly prices for this segment were ₹3.10 (~$0.037)/kWh for solar energy, ₹4.99 (~$0.060)/kWh for non-solar sources, and ₹4.45 (~$0.054)/kWh for hydroelectric energy.</p>
<p><strong>Electricity Market: Day-Ahead, Term-Ahead, and Real-Time Market</strong></p>
<p>In July, the Day-Ahead Market saw trading activity amounting to 3,976 MUrepresenting a 12% YoY upswing. The average market clearing price stood at ₹4.55 (~$0.055)/kWh, a 16% decrease over the corresponding period last year.</p>
<p>The Real-Time Electricity Market traded 2,540 MU, a YoY expansion of 19%.  The segment attracted the participation of 757 entities during the month. The Real-Time Market division empowers distribution utilities and industries with heightened flexibility and improved portfolio optimization by maintaining a real-time equilibrium between power demand and supply.</p>
<p>The Term-Ahead Market, which encompasses contracts such as intraday, contingency, daily, weekly, and contracts spanning up to three months, traded 1,036 MU in July, a YoY surge of 136%.</p>
<p><strong>Renewable Energy Certificate Market</strong></p>
<p>During the July 26, 2023 trading session, 624,000 renewable energy certificates (RECs), corresponding to 624 MU, were transacted at a price of ₹650 (~$7.86)/REC. The next REC trading session will be held on August 30, 2023.</p>
<p><strong>Energy Saving Certificates  </strong></p>
<p>In the month of July, a total of 70,222 energy-saving certificates (ESCerts), amounting to 70 MU, were exchanged on the platform at a base price of ₹1,840 (~$22.25) per ESCert.</p>
<p>IEX <a href="https://www.mercomindia.com/iex-profit-q1-fy-2024-758-million" target="_blank" rel="noopener">reported</a> a profit after tax of ₹758.2 million (~$9.2 million), an increase of 10% YoY in the first quarter of the financial year 2024. Electricity volumes witnessed a 6.9% YoY growth during April-June, with 23.7 BU traded. The conventional power market accounted for 22.8 BU, while the green market segment saw 910 MU traded.</p>


Renewable Energy Trading Dips 53% YoY at the IEX in July 2023

traded-volume

Get the most relevant India solar and clean energy news.

RECENT POSTS