NEW DELHI: Raj Kumar Singh, Minister of State-Independent Charge for Power and New & Renewable Energy, on Tuesday, September 1, launched the Pan-India Green Term Ahead Market (GTAM) as a step towards making Indian power market green. Singh said the burden on Renewable Energy (RE)-rich states would be reduced with the launch of GTAM platform. States will also be encouraged to develop RE capacity beyond their Renewable Purchase Obligations (RPO). This would support the RE merchant capacity addition and help achieve the country’s RE capacity addition goals, he said while speaking at the platform’s launch.
Singh mentioned that the number of participants in the RE sector would increase with GTAM platform and the buyers of RE will be benefitted through competitive prices and transparent and flexible procurement. RE seller will also be benefitted as they will get access to pan-India market, he added. Additional avenues will be allowed through GTAM contracts to the renewable energy generators for sale of energy.
The government’s goal of 175 gigawatts renewable energy capacity by 2022 is pushing avenues of renewable energy generation across India at a faster rate.