Power Exchange India Ltd (PXIL) conducted its Renewable Energy Certificate (REC) trading session for the month of June, on June 29, 2011. Several members including obligated entities like the distribution licensees, captive power plants and open access users participated in this session. The total orders received for non-solar certificates were 13,183 comprising 10,000 buy bids and 3,183 sell bids. REC market on the exchanges has witnessed growing interest over the past few months. The total orders received for non-solar category by PXIL have increased from 598 certificates in March 2011 to 13,183 certificates in this session. In general, the sellers' predilection for holding onto certificates in hope of better prices in future is manifested by the lower volumes at floor prices, a release by PXIL noted.

PXIL had launched the first REC trade in the country in March, 2011. This was a landmark step in the renewable energy market. A joint venture of National Stock Exchange and National Commodity & Derivatives Exchange, Power Exchange India Ltd is India's first institutionally promoted power exchange that provides innovative and credible solutions to transform the Indian power markets.