BackDemand for India solar credits rises to four-month high
A total of 6,633 solar credits were sold on the nation's two power exchanges, data from REConnect Energy show
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New Delhi: Demand for Indian solar-energy credits rose to a four-month high in July after a power utility entered the market seeking to comply with government clean-energy targets.
A total of 6,633 solar credits were sold on the nation’s two power exchanges, according to data compiled by trader REConnect Energy Solutions Pvt. Ltd. That’s the most since March.
India requires state-run electricity distributors and large industrial companies including Coal India Ltd and Tata Power Co. Ltd to get as much as 10% of their energy from renewables. Those unable to get enough locally must purchase credits sold over power exchanges in monthly trading sessions.
Demand in July “grew sharply primarily due to the participation of a distribution company", REConnect said in an email without disclosing the buyer.
The solar credits cleared at their minimum price of ₹ 9,300. Each credit represents 1 megawatt-hour of electricity fed into the grid.
Wind, hydropower and biomass credits, which trade separately, sold at their floor price of ₹ 1,500. Bloomberg
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