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Uttar Pradesh is leading the vaccination driveIEX’s green-day-ahead-market to aid RE companies
Renewable energy companies have long had a grouse — often, the buyer of their power, usually a State government owned utility, would refuse to buy their electricity, citing grid management issues. In such backdowns, the renewable energy generating company has no option but to suffer loss of revenue.
But now, with the launch of G-DAM, or the green-day-ahead-market by the Indian Energy Exchange, renewable energy companies have the option of selling their power on the exchange.
G-DAM was formally launched today by the Union Power Minister, RK Singh. Sellers and buyers can submit sale or purchase bids during a window each day; the electricity would be delivered the following day.
If an electricity distribution company, Discom, refuses to buy, the energy company now has the option of the market.
9.00 AM
Pre-market open: SGX Nifty signals 80-point gap-up opening for Nifty
3d business graph shows financial growth
Indian markets are likely to open positive note on Tuesday, thanks to strong global cues. However, the settlement of NSE derivative contracts on coming Thursday, will keep the market volatile. Though the headline benchmarks show some resilient, broader markets will continue to remain under pressure, said analysts.
Analysts caution investors not to buy the beaten down mid & small-cap stocks, as the “worst is not yet over for them”. However, market participants expect some bounce back in the mid and small-cap space.
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