New Delhi: As a first step towards Greening the Indian short term power Market, R. K. Singh, the union power minister of State (Skill Development and Entrepreneurship), launched the pan-India Green Term Ahead Market (GTAM) in electricity through video conference in New Delhi, the 1st September 2020. While speaking after the launch\u00a0Singh said, \u201cThe introduction of GTAM platform would lessen the burden on RE-rich States and incentivize them to develop RE capacity beyond their own RPO. This would promote RE merchant capacity addition and help in achieving RE capacity addition targets of the country.\u201d He further added that GTAM platform will lead to an increase in the number of participants in renewable energy sector. It will benefit buyers of RE through competitive prices and transparent and flexible procurement. It will also benefit RE sellers by providing access to pan- India market The Government of India\u2019s target of 175 GW RE Capacity by 2022 is driving accelerated renewable penetration pan-India. Green Term Ahead Market contracts will allow additional avenues to the RE generators for sale of renewable energy; enable Obligated entities to procure renewable power at competitive prices to meet their Renewable Purchase Obligations (RPO); and provide a platform to environmentally conscious open access consumers and utilities to buy green power. Key features of GTAM: \tTransactions through GTAM will be bilateral in nature with clear identification of corresponding buyers and sellers, there will not be any difficulty in accounting for RPO. \tGTAM contracts will be segregated into Solar RPO & Non-Solar RPO as RPO targets are also segregated. \tFurther, within the two segments, GTAM contracts will have Green Intraday, Day Ahead Contingency, Daily and Weekly Contracts \tGreen Intraday Contract & Day Ahead Contingency Contract \u2013 Bidding will take place on a 15-minute time-block wise MW basis. \tDaily & Weekly Contracts \u2013 Bidding will take place on MWh basis. Both buyers and sellers can submit the bid, however the seller will provide profile in terms of 15-minute time block wise quantity (MW) along with the price (Rs\/MWh). After the contract gets executed scheduling will take place as per the profile. In the case of multiple buyers, the profile will get allocated on a pro-rata basis. 4. Price discovery will take place on a continuous basis i.e. price-time priority basis.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Subsequently, looking at the market conditions open auction can be introduced for\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 daily & weekly contracts. 5. Energy scheduled through GTAM contract shall be considered as deemed RPO\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0compliance of the buyer. Union Power Minister also mentioned that other products to be introduced in the power market for the promotion of Renewable Energy are in the pipeline and would be introduced soon.