Minister of State (MoS) (Independent Charge) for Power and New & Renewable Energy, Raj Kumar Singh launched the Pan-India Green Term Ahead Market (GTAM) in New Delhi virtually, for electricity. GTAM is the World’s First Exclusive Product Market for the renewable energy sector.
GTAM will lead to an increase in the number of participants in the Renewable Energy Sector. It will benefit buyers of Renewable Energy (RE) by providing them competitive prices, and transparent, flexible procurement.
Benefits of Green Term Ahead Market:
- It will benefit RE sellers by providing them access to the Pan-India market.
- It will help in achieving the Government of India’s target of 175 GigaWatt (GW) RE Capacity by 2022.
- The initiative promotes RE merchant capacity addition and helps in achieving the RE capacity additions across the country.
- GTAM contracts will provide additional avenues to RE Generators for the sale of renewable energy.
- It will enable Obligated Entities (i.e Power Distribution Companies, Captive Power Plants, and other Large Electricity Consumers) to procure renewable power at competitive prices to meet their Renewable Purchase Obligations (RPO).