In an event organized by Ministry of Power on 1st September 2020 R.K. Singh, Minister of State, Independent Charge for Power, New & Renewable Energy and Skill Development and Entrepreneurship launched the ‘Green Markets’.
Minister Singh said: “The commencement of green markets has positioned India of the league countries with the developed electricity market. The markets are aligned with the Honorable Prime Minister’s vision to build India as a sustainable Energy Economy. Going forward, we expect the introduction of several new and innovative market products to deepen the green markets as well as work on the integration of storage and other new technologies towards assuring round the clock and firm renewable energy. The government is pro-actively working with the stakeholders in this direction.”
Sanjeev Nandan Sahai, Secretary (Power) said: “The launch of green markets is a significant development for the energy ecosystem. The markets offering payment assurance for renewable energy generators will be a good indicator to guide much-needed investments in the renewable sector.”
S.N. Goel, MD & CEO, IEX stated: “Introduction of green markets will facilitate to build a vibrant pan India market in renewable energy. The generators will now be able to commit part capacity under PPA as well as sell the energy in the market. The recently launched real-time electricity market coupled with the green term-ahead market will offer distribution utilities to integrate renewable energy efficiently.”