Platts proposes adding wind, solar to existing Indian I-RECs assessments

Platts, part of S&P Global Commodity Insights, is proposing to launch Indian International Renewable Energy Certificates (I-RECs) assessments for wind and solar, effective April 22.

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

The wind and solar Indian I-RECs assessments will 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 on 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-RECs 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.

Platts will publish the proposed assessments in US dollars and Indian rupee only but seeks feedback on whether conversions to European currencies will be relevant.

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:

Please send all feedback and comments to PriceGroup@spglobal.com and global_renewables@spglobal.com by March 22.

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

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