RECs trading in February saw significantly high volume, driven by two factors – a) very high issuance of RECs (available RECs were 8.2 million this month compared to 2 million last month) and b) high demand as we approach the end of the financial year. Solar RECs continued to trade at forbearance price of INR 2,400 while Non-solar RECs traded at Rs 1,800 at IEX and Rs 2,050 at PXIL.
Non-Solar: non-solar RECs traded at the price of INR 1,800 at IEX (80% above the floor price) INR 2050 at PXIL (105% above the floor price). A total of 842,673 RECs were traded in this session.
Solar: The total number of solar RECs traded in this session was 1,299,737 at INR 2,400 at both IEX and PXIL (140% above the floor price)
The overall trade volume (2,142,410 RECs) increased dramatically by 275% from the last months’ trade volume (570,704 RECs).