Categories: National

Union Power Minister RK Singh launches “Green Term Ahead Market”

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.

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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).

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.