India's largest Energy Exchange IEX will launch Green Term-Ahead Market (G-TAM) on its platform from Friday following approval received from the regulator - Central Electricity Regulatory Commission (CERC), said the company Wednesday.
The introduction of green markets on the Exchange platform will offer trade in four types of green term-ahead contracts - Green Intra-day contracts, Day-ahead Contingency contracts, Daily Contracts and Weekly contracts, IEX said in its corporate filing with the Bombay Stock Exchange.
There will be separate contracts for Solar and Non-Solar energy to facilitate Solar and Non-Solar Renewable Purchase Obligations fulfillment, it said.
As a signatory to the Paris Climate Agreement 2016, India has committed to install 40 percent i.e 450 GW (gigawatt) of renewable capacity by the year 2030.
"The policy makers and regulatory authorities are pro-actively deliberating introduction of competitive market-based models towards meeting sustainable energy economy aspirations," said Rajiv Srivastava, IEX's Managing Director and CEO.
The introduction of G-TAM along with the recently launched real-time trading in electricity will work in tandem to support seamless integration of renewable energy power and support the renewable energy generators as well as the distribution utilities in trading through market platform, IEX said in its filing.
Editor:Cherie
