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The pan-India Green Term Ahead Market (GTAM) in electricity was launched through video conference on Tuesday.
Speaking after the launch, Minister of State (Independent Charge) for Power and New & Renewable Energy, RK Singh, said, “The introduction of GTAM platform would lessen the burden on Renewable Energy (RE)-rich States and incentivise them to develop RE capacity beyond their own RPO. This would promote RE merchant capacity addition and help in achieving RE capacity addition targets of the country.”
Singh added that the GTAM platform will lead to increase in number of participants in renewable energy sector. It will benefit buyers of RE through competitive prices and transparent and flexible procurement. It will also benefit RE sellers by providing access to pan-India market.
Green Term Ahead Market contracts will allow additional avenues to the RE generators for sale of renewable energy; enable Obligated entities to procure renewable power at competitive prices to meet their Renewable Purchase Obligations (RPO). It will also provide a platform to environmentally conscious open access consumers and utilities to buy green power, an official statement said.
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