REChronicles - From the Editor’s desk Hello Readers. Hope you enjoyed reading our previous issue of REChronicles. This month has seen a number of happenings in the RE Industry. The demand for Non-Solar RECs saw a decrease this month. On the Solar REC front, there was an increase in demand. Similar to last month, the supply was higher than demand. This month again, owing to the massive influx of RECs issued, the supply was about around 13 times that of the demand with the solar inventory closing at an all-time high. On the national policy front, a bit of good news for the Wind Industry as Generation Based Incentive (GBI) has been reinstated for Wind Power. Also, after a long wait, SECI finally announced the results of the Phase-II of Solar Rooftop bidding. At the state level, quite a few updates this time. The much talked about GUVNL plea for Solar Tariff reduction has been rejected by GERC giving respite to developers. Bihar, which had already once extended the last date of bidding for it Solar bidding process has once again extended it to 14th September. In what may be considered fairly optimistic for REC market, Maharashtra and Punjab SERCs have issued orders asking their respective DISCOMs to meet their cumulative RPO (for the current and last 2 years) by year-end. However, it is to be seen whether the DISCOMs are going to take this seriously and act on it. Very recently, Uttarakhand has announced a scheme for Grid-Interactive rooftop and Small Scale SPV plants. Down South, APTRANSCO has formally announced closure of its Solar bidding process which started way back in January. However, sources indicate that PPAs haven’t been signed yet and it might take a few more weeks for things to draw to a close. TNERC released a Consultative Paper proposing a tariff of Rs.5.78/unit for Solar PV which caused the TN Solar bidders to worry as they were already offered a tariff of Rs.6.48/unit (+5% escalation per year upto year 10) by TANGEDCO. However, it’s unlikely that the TNERC tariff will be applicable to the TN Solar bidders. Tamil Nadu, which announced its Net Metering Policy a few weeks back has announced guidelines for the same. Andhra Pradesh followed suit by announcing its own guidelines for the Net Metering Policy. Financial bids of the Karnataka 130 MW Solar bidding process were finally opened giving a shocker to everyone as the lowest solar tariff quoted was Rs.5.51/unit (without any escalation). 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 – August 2013 REC Inventory: Opening at close to 2.72 Million, August trading session closed with the inventory balance of 3.18 Million RECs. The following sections give an update on the Non-Solar and Solar front.
Non-Solar The month of August started with an Opening Balance of 2709391 Non-Solar RECs. Over the course of the month, 488333 Non-Solar RECs were issued thus putting the available number at 3197724. Of these, only 2974694 were put up for trading. Buy bids of 40889, all of which were cleared, led to a closing balance of 3156835. Following table gives the Non-Solar REC Inventory statistics for the last 3 months. Non-Solar REC Inventory for Jun-2013 to Aug-2013 (as on 28-Aug-2013) Month, Year
Solar Opening at 19651 Solar RECs, 12890 were iss