The Indian Energy Exchange has announced it has received approval from the Central Electricity Regulatory Commission to launch the Green (Renewable Energy) Term-Ahead Market (G-TAM).
The GTAM will greatly support the renewable energy generators and the distribution utilities in trading through the market platform. It will allow states with surplus renewables to sell, while the buyers will be able to procure energy and meet their renewable purchase obligations.
The Exchange already conducted a mock trading session on August 18, which saw good participation from its members and partners and plans to commence the trading from August 21.
As a signatory to the Paris Climate Agreement 2016, India has committed to installing 450 GW of renewable capacity by 2030. Furthermore, the consumers both in India as well as globally are increasingly preferring sustainable energy over conventional.
The introduction of green markets on the Exchange platform is a significant milestone that will go a long way in facilitating consumers’ choice, accomplishing national green capacity targets, and enabling the integration of renewable energy most flexibly and efficiently.
The market will offer a trade in four types of green term-ahead contracts: green intra-day contracts, day-ahead contingency contracts, daily contracts, and weekly contracts. There will be separate contracts for solar and non-solar energy to facilitate solar and non-solar renewable purchase obligations fulfillment.
The introduction of GTAM, along with the recently launched real-time trading in electricity, will work in tandem to support RE power’s seamless integration.
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