Platts to add wind, solar to existing Indian I-RECs assessments

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

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

The India wind and solar I-REC assessments will reflect spot deliveries of certificates, representing a minimum 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 represents 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 will be 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 will be available on Platts Connect and will be part of Platts Energy Transition offering.

Below is a summary of the new assessment launches:

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.

Please send all feedback and comments to PriceGroup@spglobal.com and guaranteeoforigin_certificates@spglobal.com.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.

Platts will consider all comments received and will make comments not marked as confidential available upon request.