Infographic:Asia-Pacific I-REC activity eases in Feb as demand weakens

The Asia-Pacific regional I-RECs market was subdued in February due to thin demand and oversupply. In India, the bullishness faded as low demand led to a 2.53% decline in prices.

Malaysia and Singapore experienced sharp declines in solar I-REC prices due to oversupply and limited interest from buyers. Thailand saw brief spikes, particularly in solar I-RECs, before demand softened and prices stabilized at the $1.20/MWh level.

Vietnam’s I-RECs market remained sluggish following the Tet holidays, with wind and solar I-RECs dropping over 11% as demand failed to pick up. Market participants are showing caution, with oversupply continuing to weigh on prices and limit trading activity.

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