The most significant reduction is of the Solar REC forbearance prices with a drop from Rs. 17000 per MWh to Rs. 13690 per MWh and the floor price from Rs. 12000 per MWh to Rs. 9880 per MWh. This drop is almost 20% from the initial prices that Solar RECs currently command and a minimal 10% impact on Non-Solar RECs.
Non-Solar REC forbearance prices will drop from Rs. 3900 per MWh to Rs. 3480 per MWh and the floor price from Rs. 1500 per MWh to Rs. 1400 per MWh.
Currently almost all trades for Non-Solar RECs are at the floor prices and we expect that to continue.