Electrical Monitor

First Solar REC trade concludes

Em News BureauThursday, June 28, 2012, 15:42 Hrs  [IST]

pxilPower Exchange of India Ltd (PXIL), on May 30, concluded the country's first successful Solar REC trade. The first Solar Certificate was traded on the exchange which helped the participants to meet their obligations. The Solar Certificates were traded at a price of Rs.13,000 per certificate. The trading session witnessed participation from several members including obligated entities like the distribution licensees, captive power plants, traders and open access users.

M & B Switchgears Ltd became the first solar power producer in India to be issued solar RECs. The Indore-based company was issued 249 solar RECs by the National Load Dispatch Centre in New Delhi. The company in March 2012 had commissioned India's first grid-connected solar power plant (of 2 mw) under REC mechanism in Rajgarh district of Madhya Pradesh.