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The Commencement of Green Markets Has Positioned India of the League of Countries With Developed Electricity Market : R.K.Singh

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R.K. Singh, Minister of State Independent Charge for Power and New & Renewable Energy and Minister of State-Independent Charge for Skill Development and Entrepreneurship launched the green markets on Tuesday, September 01, 2020 in a digital event organized by the Ministry of Power. The event saw presence from several eminent dignitaries including Sanjeev Nandan Sahai, Secretary, Ministry of
Power; Shri Sanjay Malhotra, Additional Secretary, Ministry of Power; Ghanshyam Prasad, Joint Secretary, Ministry of Power besides others from MNRE, CERC, NLDC, State distribution utilities and IEX.

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Addressing the participants at the occasion, Honorable Minister in his keynote remarks mentioned, “the commencement of green markets has positioned India of the league of countries with developed electricity market. The markets are aligned with the Honorable Prime Minister’s vision to build India as a sustainable Energy Economy. Going forward, we expect introduction of several new and innovative market products to deepen the green markets as well as work on integration of storage and other new technologies towards
assuring round the clock and firm renewable energy. The government is pro-actively working with the stakeholders in this direction.”

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The Ministry of Power and Ministry of Renewable Energy will continue to focus on strengthening our energy market given the advantages like competitive prices, transparency, flexibility, and payment security that it offers. “the distribution companies are also moving towards the short-term market and do not want to be tied down under long-term contracts.” added the Minister.

Sharing his views as the guest of the honor at the event, Sanjeev Nandan Sahai, Secretary (Power) said, “The launch of green markets is a significant development for the energy ecosystem. The markets besides offering payment assurance for the renewable energy generators will be a good indicator to guide much needed investments in the renewable sector. We need to expand the renewable energy spectrum and
introduce several market products to expand the market. Through various government initiatives, we have witnessed technological developments in the renewable market.”
Speaking on the occasion Ghanshyam Prasad, Joint Secretary (Power) while welcoming the digital gathering said, “today we have achieved an important milestone for the energy sector and green market will play an instrumental role in growth of the renewables in India. We are confident that the green markets will accelerate the adoption of renewable energy in the country.”

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