⇒ Shri R K Singh, Union Minister of Power & New and Renewable Energy, launched the new market segment, Green Day Ahead Market (GDAM) on 25 October 2021.
Nodal Agency:
National Load Despatch Centre (NLDC), POSOCO, as the Nodal Agency, has set up the latest technologies and communication infrastructure for facilitating the Green Day Ahead Market.
Significance:
The launch of the green day-ahead market will deepen the green market and will provide competitive price signals, besides offering an opportunity to the market participants to trade in green energy, in the most transparent, flexible, competitive, and efficient manner.
Key Points:
» India is the only large electricity market in the world to implement a Green Day Ahead Market (GDAM) exclusively for renewable energy.
» The introduction of GDAM is expected to create a domino effect that will lead to a gradual shift from PPA based contract to market-based models which will build and deepen the markets to the next level.
» GDAM is aligned to India’s aspiration of achieving 450 GW of green Capacity by 2030.
» The Green Day-ahead market will operate in an integrated way with the conventional day-ahead market.