REChronicles - From the Editor’s desk Hello Readers. Hope you enjoyed reading our previous issue of REChronicles. This month has seen a few interesting happenings in the RE Industry. The demand for Non-Solar RECs saw an increase this month as well. On the Solar REC front, similar to last month, there was a drop in demand. More interestingly, the clearing price for both the exchanges was Rs.9300/REC (floor price) for the first time. On the national policy front, MNRE has revised the bench mark costs for projects participating under ‘Off-grid and Decentralized Solar Applications Programme’ under JNNSM during 2013-14. After much speculation about Domestic Content Requirement (DCR), the Government has decided that DCR would be applicable to 75% of the total 750 MW solar projects to be built through Viability Gap Funding under JNNSM Phase-II, Batch-I. At the state level, Tamil Nadu Generation Corporation as a response to its solar bidding has received letters of commitment from developers for a total of 690 MW. In Andhra Pradesh, APTRANSCO is reported to have received responses for 350 MW for its solar bidding. Punjab Energy Development Agency opened the financial bids for its RfP issued for 300 MW Solar PV projects and the total capacity of the financial bids opened was 251 MW. This week, Rajasthan Renewable Energy Corporation Limited (RREC) has issued a draft RfP to undertake the selection of solar power producers for setting up of 50 Projects, each of 1 MW capacity. Further information on these updates is in the Renewable Energy News section on pg.6 of this issue. We have, as always put in our best efforts in order to come up with the articles in this issue. We hope you enjoy reading them as much as we did while preparing this issue. Kindly give us your valuable feedback on how we can improve REChronicles and make it even more interesting for you to read. Happy reading!!
REC Trading Update – June 2013 REC Inventory: Opening at close to 2.17 Million, June trading session closed with the inventory balance of 2.41 Million RECs. The following sections give an update on the Non-Solar and Solar front.
Non-Solar The month of June started with an Opening Balance of 2187511 Non-Solar RECs. Over the course of the month, 293094 Non-Solar RECs were issued thus putting the available number at 2480605. Of these, only 2388934 were put up for trading. Buy bids of 72486, all of which were cleared, led to a closing balance of 2408119. Following table gives the Non-Solar REC Inventory statistics for the last 3 months. Non-Solar REC Inventory for Apr-2013 to Jun-2013 (as on 26-Jun-2013) Month, Year
Solar Opening at 3130 Solar RECs, 2802 were issued over the course of the month thus putting the total available Solar RECs at 5932 all of which were put up for trading. The trading session closed with a Closing Balance of 4453 after the redemption of only 1479 Solar RECs. Following table throws more light on the Solar REC Inventory statistics for the last 3 months. Solar REC Inventory for Apr-2013 to Jun-2013 (as on 26-Jun-2013) Month, Year
REC trading: The number of Non-Solar Buy-bids increased as compared to that of May. Solar REC trading again witnessed a slump in terms of buy-bids and for the