IEX green term-ahead market trades 2,744 MU renewable energy in first year

New Delhi [India], Aug 23 (ANI): Indian Energy Exchange (IEX) said on Monday its green term-ahead market cumulatively traded 2,744 million units of renewable energy in its first year comprising of 1,267 MU volume in solar segment and 1,477 MU in non-solar segment.
The market discovered Rs 3.75 per unit as the average price with average solar price at Rs 3.48 per unit and average non-solar price at Rs 4.06 per unit.
"The green market has received an overwhelming response and reached a robust participant base close to 100 in a short span of time," IEX said in a statement.
The distribution companies from Karnataka, Telangana, Tamil Nadu and Himachal including RE generators like Choudhary Power, Bhilangana Hydro Power, Amplus Green, Adani Solar and MRN Cane Power are a few key participants on the sell side.
Distribution companies like CESC Haryana, DNH, Tata Power Company and DVC along with industrial consumers like Vedanta, SAIL, Jindal Steel and Tata Steel are key participants on the buy side.
In the first year, Power Company Karnataka Ltd (PCKL) emerged as the top seller while Vedanta Ltd as the top buyer in green market, said IEX.
Launched formally by Minister of Power and New and Renewable Energy R K Singh on September 1, 2020, the green market offers a robust value proposition like competitive prices, transparent and flexible procurement, as well as payment security to buyers and sellers.
Green power generators and distribution utilities who have surplus renewable energy are now participating in the market to sell this surplus to other deficit entities, facilitating them to meet their energy and RPO requirements in an integrated way.
IEX said the market has been a great leveler towards addressing the RE integration challenges. (ANI)