Indian Energy Exchange (IEX) Limited has announced the expansion of its delivery based Green Market with the launch of two new products – Green Daily Contract and Green Weekly Contract.
Trading in the new contracts in both solar and non-solar segments will commence with immediate effect. With this launch, IEX Green Market now has four contracts, and offers greater choice to the market participants to buy renewable energy on the same day and upto 11 days ahead. In a first for IEX Green Market, the Daily and Weekly contracts, will enable market participants to trade in on energy basis (MWh) with the bidding taking place on a 15- minute time-block. The trading in energy terms will help to address the intermittency issues involved in renewable energy procurement. The green term ahead market has registered a cleared volume of 164 MUs comprising 145 MU in solar and 19 MU in non-solar. Since its launch on August 21, 2020, the market has cumulatively traded over 459 MU volume.