The Union Minister of Power & New and Renewable Energy, R K Singh has launched a new market segment, “Green Day Ahead Market (GDAM)”. This makes India as the only large electricity market in the world to implement a GDAM exclusively for renewable energy. The launch of the green day-ahead market will deepen the green market and will provide competitive price signals, besides offering an opportunity to market participants to trade in green energy, in the most transparent, flexible, competitive, and efficient manner.
About the initiative:
- The new initiative will open the renewable energy sector to enable anyone to set up the capacity and sell it to distribution companies and industries.
- Meanwhile, the electricity generation and distribution companies will be able to buy or sell renewable energy through open access.
- The market-based competitive prices will provide another option to renewable generators to sell power as well as accelerate the renewable capacity addition towards the government’s vision of building India as a sustainable and efficient energy economy.