Platts adds wind, solar to existing Indian I-REC assessments

Platts, part of S&P Global Commodity Insights, has launched wind and solar Indian international renewable energy certificate (I-REC) assessments, effective April 22.

The assessments provide transparency to the growing solar and wind I-RECs market in India and complement the Platts existing India I-REC assessments.

The I-REC assessments reflect spot deliveries of certificates, representing a minimum of 1 GWh, for prior-year and current-year vintages, rolling into the next vintages at the start of each calendar year.

For example, the vintages reflected in the assessments on April 22, 2024, will be for 2023 and 2024, and will be assessed through Dec. 31, 2024. Vintages reflected in the assessments will roll into 2024 and 2025 on Jan. 1, 2025, and so on in subsequent years.

Each I-REC represents the environmental attributes of renewable electricity and 1 MWh of electricity generated from renewable sources as certified and recorded within the I-REC standard registry.

The wind and solar I-RECs assessments are published in US$/MWh and Indian Rupee/MWh at 4:30 pm Malaysia time (0830 GMT) and follow the Penang publishing schedule and holiday calendar.

The new assessments are available on Platts Connect and are part of Platts Energy Transition offering.

The new assessments and symbols are as follows :

Platts published its decision to launch the assessment on March 26 here: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/032624-platts-to-add-wind-solar-to-existing-indian-i-recs-assessments(opens in a new tab)

Platts began publishing I-REC assessments for Brazil, Turkey and India in September 2022. Subsequently, in June 2023, Platts expanded its coverage to include Mexico and Chile. The latest addition to their assessments came in February 2024, with the inclusion of Vietnam and Malaysia. Details about the methodology for Platts I-REC assessments can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/energy-transition/i-recs(opens in a new tab)

In the case of bank holidays, prices will be published on the next working day.

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