IEX expands Green Market; Adds daily, weekly contracts

Indian Energy Exchange (IEX) on Friday announced the expansion of its Green Market with the launch of new contracts that will offer greater choice to market participants to buy renewable energy on the same day and up to 11 days ahead. IEX has expanded its delivery-based Green Market with the launch of two new products – Green Daily Contract and Green Weekly Contract, an IEX statement said.

According to the statement, trading in the new contracts in both solar and non-solar segments will commence with immediate effect.

With this launch, the IEX Green Market now has four contracts, and offers greater choice to market participants to buy renewable energy on the same day and up to 11 days ahead.

In a first for IEX Green Market, the Daily and Weekly contracts, will enable market participants to trade in on energy basis (MWh) with the bidding taking place on a 15-minute time-block.

The trading in energy terms will help to address the intermittency issues involved in renewable energy procurement.