Energy Markets Team
22 April 2024
ReNew
India has made
significant strides in overcoming long-standing power shortages and
establishing a sustainable electric supply in recent years. Looking forward to
2030, the nation aims to incorporate a substantial share of renewable energy
into its energy mix, necessitating operational and market innovations.
Short-term green energy markets are positioned as critical enablers in this
transition, driven by imperatives such as enhancing market efficiency,
developing renewable energy sources, ensuring energy security, improving grid
operations, and sustainably meeting the growing electricity demand within the
country.
While conventional
power trading has been prevalent in India for more than two decades, it is only
in the last three years that green power trading has witnessed substantial
advancements. The complexity of renewable energy power trading, compounded by
the intermittent nature of green electricity from sources like solar, wind, and
hydro, has posed challenges thus far. Let us take a look at what green energy
markets entail:
How is Green
energy trading different from conventional power trading?
Green energy trading
involves exchanging electricity with minimal greenhouse gas emissions, aligning
with larger national as well as global efforts to mitigate climate change.
Green power trading customers, including businesses, utilities, government
institutions, data centers, and investors, play a pivotal role in driving
demand for renewable energy, influencing market dynamics, and fostering the
growth of a sustainable energy sector.
India's diverse energy
mix, with a significant portion derived from clean sources like solar and wind
energy, benefits from power trading by integrating these green sources into the
grid. Power markets help balance supply and demand across regions, maximizing
the utilization of existing infrastructure and improving overall grid
stability. Market competitiveness, driven by power trading, contributes to effective
price discovery, encourages investment in infrastructure, and promotes
competitive rates for consumers.
However,
India's green power trading sector faces significant challenges attributed to
various factors:
ReNew Energy Markets
Pvt Ltd (REMPL) has emerged as a notable player, demonstrating the effective
trading of intermittent renewable power in the market. REMPL has established a
dedicated 500 MW merchant asset for green power trading, utilizing
state-of-the-art technology and automated bidding processes. REMPL’s
comprehensive power market solutions include coordinating with power suppliers,
managing bid generation, and optimizing market strategy. With a team of power
sector experts and successful engagement with over 30 counterparties, REMPL
contributes to the evolution of green power trading in India, showcasing the
potential for efficient and transparent operations in the renewable energy
sector.
Organisations stand to benefit
immensely from leveraging RE power trading services. Here are some of them:
The
multifaceted benefits offered by green energy trading combined with the urgency
of transitioning to cleaner sources of energy to limit global warming, make a
pressing case for renewable energy power trading to get a boost. And
governments and the private sector stands to play an equally critical role in
this endeavour.
Join
this journey by partnering with us. Learn more about our services by clicking here.
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