We are pleased to share the Result of REC trading for the month of March-15.
- Solar RECs – Overall market clearance remained optimistic this time, with good demand at PXIL and overall good clearance at both the exchanges. Demand rose from close to 44,869 last month to 68,982 this time, albeit the huge inventory still left to be carried over to the next FY. Market clearing ration also improved significantly over previous month, but not convincing as compared to March 2014, where the clearing ratio was 7.37%.
- Non Solar REC market unexpectedly dipped from 747,487 last month to 654,985 RECs this month due to some states allowing carry forward of RECs to next FY. The clearing ratio was good, but considering that in March last year it was 12.03%, it was significantly lower. Inventory continues to pile up, and has reached an overwhelming figure of close to 10.5 million.
Comparing trading volumes this quarter with the corresponding quarter last year provide a better picture of the REC markets. In the last quarter of FY 2013-14 approximately 13.5 Lakh REC’s were redeemed whereas this quarter of FY 2014-15, approximately 20 Lakh REC’s have been redeemed - an increase of approx. 48 %.
The REC trade results in the FY 2014-15 is summarized below for your reference.
REConnect Energy is the market leader in the REC Market in India, with 36% market share and a portfolio of over 3 GW RE. We have been recently acknowledged with the REC Trader of the Year 2014.