Latest News | IEX Green Term-ahead Market Trades 2,744 MU Energy

New Delhi, Aug 23 (PTI) Energy marketplace IEX on Monday said about 2,744 million units (MU) of renewable energy have been traded on its Green Term-ahead Market (GTAM) since its launch in September last year.

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Of the total, 1,267 MU were traded in the solar segment, and 1,477 MU in the non-solar segment, the Indian Energy Exchange Ltd (IEX) said in a statement.

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Launched by Power and New & Renewable Energy Minister R K Singh on September 1, 2020, the green market offers competitive prices, transparent and flexible procurement, as well as payment security to both buyers and sellers, IEX said.

"The market discovered Rs 3.75 per unit as the average price in the first year with average solar price at Rs 3.48 per unit and average non-solar price at Rs 4.06 per unit," the exchange said.

In one year of launch, the green market received an overwhelming response and reached a participant base close to 100. Power Company Karnataka Limited (PCKL) has emerged as the top seller while Vedanta Limited as the top buyer in the Green Market.

Besides, distribution companies from Karnataka, Telangana, Tamil Nadu and Himachal Pradesh and renewable energy generators like Choudhary Power, Bhilangana Hydro Power, Amplus Green, Adani Solar andN Cane Power participated on the sell side.

Distribution companies like CESC, Haryana, DNH, Tata Power company and DVC along with industrial consumers like Vedanta, SAIL, Jindal Steel, Tata Steel etc were the key participants on the buy side, the statement said.

S N Goel, Chairman and Managing Director, IEX said, "The inception of the green market has been a landmark milestone for our nation. On the eve of 75th Independence Day, our Prime Minister announced India aspires to attain energy Independence by 2047. The market can play a catalyst role in facilitating our efforts towards achieving energy independence and building a green and sustainable energy economy in the most competitive and efficient manner."

Energy marketplace IEX enables almost 4,500+ commercial and industrial consumers located across India to leverage open access through the exchange platform to procure electricity at attractive prices and accrue operational efficiency as well as the financial savings.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)