India: RECs transacted on power exchanges 2023

During the financial year 2023, around 8.25 millions Renewable Energy Certificates (REC) were transacted on power exchanges in India. The South Asian country is the third-largest producer as well as consumer of electricity in the world, with a national electric grid of more than 400 gigawatts of installed generation capacity.

Number of Renewable Energy Certificates (REC) transacted on power exchanges in India from financial year 2012 to 2023 (in 1,000s)

Characteristic	Number of certificates in thousands
FY 2023**	8,250
FY 2022*	8,460
FY 2021*	921
FY 2020	8,928
FY 2019	12,600
FY 2018	16,200
FY 2017	6,488
FY 2016	4,955
FY 2015	3,062
FY 2014	2,749
FY 2013	2,590
FY 2012	1,015

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Release date

October 2023

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Region

India

Survey time period

FY 2012 to FY 2023

Supplementary notes

* As per Honorable APTEL Order trading sessions of RECs at both the Power Exchanges were suspended from July 2020 to October 2021 and resumed from November 2021 as per Honorable APTEL Order dated 09/11/2021.

**Includes RECs traded bilaterally through Trading Licenses.

India's financial year begins in April and ends in March.

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