IEX Green Market traded 2744 MU of Renewable Energy in its first year


Biznextindia: The Indian Energy Exchange (IEX) has announced that its green term-ahead market has cumulatively traded 2744 MU of renewable energy in its first year comprising of 1267 MU volume in the solar segment and 1477 MU in the non-solar segment. The market discovered Rs 3.75 per unit as the average price in first year 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 has reached a robust participant base close to 100 in a short span of time. 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. While the distribution companies like CESC, Haryana, DNH, Tata Power Company and DVC along with Industrial consumers like Vedanta, SAIL, Jindal Steel, Tata Steel etc. are the key participan ts on the buy side.

  • Total trade – 2744 MU comprising 1267 MU under Solar & 1477 MU under Non-solar
  •  Average Price – Rs 3.48 per unit for Solar; Rs 4.06 per unit for non-Solar
  •  Maximum trade volume in a single day – 153.1 MU on 16 July 2021
  • Maximum trade volume in a month – 726 MU in July 2021
  •  Highest no. of participants in a month – 50 in July 2021
  • Top 5 Buyers – Vedanta Limited, Calcutta Electric Supply Corporation (India) Ltd, Haryana Power Purchase Centre, DNH Power Distribution Corporation Ltd & Bihar State Power Holding Co. Limited.
  •  Top 5 Sellers – Power Company of Karnataka Ltd, Southern Power Distribution Company of Telangana Limited (TSSPDCL), Choudhary Power Projects Private Ltd, Bhilangana Hydro Power Ltd and Amplus Green Power Pvt. Ltd.

In the first year, Power Company Karnataka Limited (PCKL) has emerged as the top seller while Vedanta Limited as the top buyer in the Green Market Launched formally by Shri R.K. Singh, Hon’ble Minister of Power and New & Renewable Energy on 1 September’20, the green market offers a robust value proposition such as competitive prices, transparent and flexible procurement, as well as payment security to the buyers and sellers. The 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. The market has been a great leveler towards addressing the RE integration challenges.

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