Green Day Ahead Market (GDAM) initiative launched
- Union Minister of Power & New and Renewable Energy has launched the Green Day Ahead Market (GDAM).
- India is the only large electricity market in the world to implement a Green Day Ahead Market (GDAM) exclusively for renewable energy.
- GDAM is aligned to India’s aspiration of achieving 450 GW of green Capacity by 2030.
Green-Day-Ahead Market (GDAM)
- GDAM is a step by the government to make business simpler and enable big industries to go green.
- Under GDAM,any interested party can setup renewable energy capacity and sell it to Discoms / industries.
- Advantages of Open access will be granted within 15 days.
- GDAM will enable the achieving India’s green targets and facilitate the integration and expansion of green energy in an efficient, competitive, sustainable & transparent manner.
- The launch of GDAM will offer competitive price signals as well as an opportunity to the market participants to trade in green energy in the most transparent, flexible, competitive, and efficient manner.
- With the market-based competitive prices, the renewable generators will find an option to sell power as well as boost the renewable capacity addition towards the government’s vision of building India as a sustainable and efficient energy economy.
Significance
- Green-Day-Ahead Market has been termed as a unique product launch in the energy market in India.
- The dynamics of the energy and power market are changing and the world is witnessing a wave of energy transition.
- India is also committed to the energy transition from fossil fuel to non-fossil fuel sources and GDAM will help achieve the goal.