PXIL successfully completed the second REC trading session for February 2025, in compliance with the CERC’s direction outlined in Order of Petition 379-MP-2024. This marks the 22nd session of FY 24-25 and the 43rd auction session under the Central Electricity Regulatory Commission (CERC) regulations for Renewable Energy Certificates (RECs), which came into effect on December 5, 2022.

A total of 4.27 lakh RECs were successfully transacted during this session. Prior to the auction, more than 439.44 lakh RECs were available in the market for trade. The trading took place under the guidelines provided by the Hon’ble Delhi High Court in their Daily Order dated May 11, 2023, which lifted the previous restriction on the sale of RECs issued before October 31, 2022. As a result, all RECs held by selling entities were eligible for trading in this session.

The sessions included:

a) Non-Solar RECs issued before April 1, 2017, which were transacted at a floor price of Rs. 1,500/MWh, as directed by CERC in its Order for Petition no. 2/SM/2017 dated March 30, 2017.
b) Various RECs from different renewable technologies, including Solar, Wind, Hydro, Small Hydro, Biomass, and other renewable energy sources.