GTAM: Green Term Ahead Market
Q.Explain Green Term Ahead Market (GTAM)?
Union Power Minister RK Singh recently launched the ‘Green Term Ahead Market’ (GTAM) in the power sector.
GTAM is an alternative model intended to provide renewable energy producers the facility to sell electricity in the open market without a long-term power purchase agreement (PPA).
The move will increase participation in the renewable energy sector and will help in achieving the capacity addition target.
Q.What are the salient featues of GTAM?
The introduction of the GTAM platform will reduce the burden on renewable energy (RE)-rich states and enable them to further develop RE capacity from their RPO (Renewable Energy Purchase Obligation). Will encourage by giving concession.
This will promote RE business capacity addition and help achieve the country’s RE capacity addition targets.
GTAM platform will increase the number of participants in the renewable energy sector.
This will benefit buyers of RE through competitive prices and transparent and flexible purchases.
Q.How will it help renewbale energy sector to grow?
Renewable energy vendors will also benefit from this initiative.The government has set a target of attaining 1,75,000 MW of generating capacity in renewable energy by 2022, thereby expanding green energy across the country.
Green Term Ahead Market contracts will provide additional opportunities for RE producers to sell renewable energy. Institutions will be able to obtain renewable electricity at competitive prices to meet their renewable purchase obligation.
Topic :-Green Term Ahead Market (GTAM) Launched
AUTHOR:- Ensemble IAS Academy
CATEGORY :- Environment
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