REChronicles - From the Editor's desk - EfficientCarbon

Jul 31, 2013 - domain. This month has seen a few interesting happenings in the RE Industry. The demand for ... Buy bids of 161402, all of which were cleared, led to a ..... Drop us an email at [email protected] or give a call on.
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REChronicles - From the Editor’s desk Hello Readers. Hope you enjoyed reading our previous issue of REChronicles. It’s been exactly a year since we started REChronicles and here we are, at your service with the promise of bringing you the most comprehensive analysis of REC trading in India and the latest happenings in the Renewable Energy domain. 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, there was an increase in its demand. Similar to last month, the supply was higher than demand. However, this month owing to the massive influx of RECs issued, the supply was about ten times that of the demand with the solar inventory closing at an all-time high. On the national policy front, CERC issued the final version of the Second Amendment to REC regulations. According to this amendment, the validity of RECs has been extended to 730 days from their date of issue. Under the directions of MNRE, SECI issued a RFE of companies for installation of Mini and Micro grid Solar PV power plants for rural electrification in India. The last date for this RFE was recently extended to 12th August. MNRE released a format to assist solar power developers to feed solar capacity addition data. This format is for projects set up all over the country. At the state level, the AP Government subsequent to its order on net metering, released another order to make provisions for payment for surplus/excess energy injected into the grid. Regarding the AP solar bidding, APTRANSCO received responses from 35 bidders for setting up 418 MW capacity solar PV plants under the state solar bidding. Following this, the AP Government decided to allow any company to set up a Solar PV plant while assuring them Rs. 6.49 per unit price. Bihar extended the last date for online submission of its tender for its 150 MW Solar PV bidding. Punjab handed over LoAs to 26 developers for setting up 250 MW solar PV projects under its state solar bidding. Odisha finally released a draft Solar Policy – 2013 in line with the National Solar Mission with an objective to promote solar energy in the state. 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 – July 2013 REC Inventory: Opening at close to 2.41 Million, July trading session closed with the inventory balance of 2.72 Million RECs. The following sections give an update on the Non-Solar and Solar front.

Non-Solar The month of July started with an Opening Balance of 2407831 Non-Solar RECs. Over the course of the month, 460471 Non-Solar RECs were issued thus putting the available number at 2868302. Of these, only 2772198 were put up for trading. Buy bids of 161402, all of which were cleared, led to a closing balance of 2706900. Following table gives the Non-Solar REC Inventory statistics for the last 3 months. Non-Solar REC Inventory for May-2013 to Jul-2013 (as on 31-Jul-2013) Month, Year

Opening Balance

REC Issued

REC Redeemed

Closing Balance

May, 2013

1991136

249221

52968

2187389

June, 2013

2187389

292928

72486

2407831

July, 2013

2407831

460471

161402

2706900

Solar Opening at 4453 Solar RECs, 17227 were issued over the course of the month which is the highest so far. Thus putting the total available Solar RECs at 21680 all of which were put up for trading. The trading session closed with a Closing Balance of 19651 after the redemption of only 2029 Solar RECs. Follo