The union minister of power and new and renewable energy (RE) has launched a new market segment, Green Day Ahead Market (GDAM) on October 25, 2021. …
With the launch of GDAM, any interested party can setup RE capacity and sell it to discoms and industries. Advantages of free interstate transmission systems (ISTS) will be available and open access will be granted within 15 days. The launch of the GDAM is expected to deepen the green market and provide competitive price signals, as well as an opportunity to the market participants to trade in green energy. It wouldalso create a domino effect leading to a gradual shift from power purchase agreement (PPA) based contracts to market-based models. The National Load Despatch Centre (NLDC), POSOCO, is the nodal agency which has set up the latest technologies and communication infrastructure for facilitating the GDAM.Themarket participants can submit bids to power exchanges together for both conventional and renewable energy through the separate bidding windows. The clearance will take place in a sequential manner – renewable energy bids will be cleared first in accordance with the must run status of the renewables, followed by conventional segment.