Amplus Achieves First Successful Solar Trade on GTAM

On August 20th, three days after the launch of India’s first ever Green Term-Ahead Market (GTAM) at the Indian Energy Exchange (IEX), Amplus Solar sold solar electricity on the exchange, becoming the first solar generator to trade on GTAM.  IEX had launched the GTAM on its power trading platform after receiving approval from the CERC on 17th August 2020.

The latest IEX platform has been set up to provide renewable energy (RE) generators a place to sell surplus, or even regular energy to firms looking to achieve  renewable purchase targets, or even RPO obligations by discoms.  As pressure grows on firms to showcase their ‘green’ credentials, the platform could be a much faster way for many to achieve a lower carbon footprint by buying power at the exchange. It can also help consumers who are falling short of their Renewable targets despite being prosumers through onsite generation sources. Global initiatives like the RE100 also means that many firms that have made commitments to source green power, can do it through the exchange now, at a time when large capex into renewable energy might be a challenge for some.

Sanjeev Aggarwal, MD and CEO, Amplus Energy

“Amplus has always been progressive when it comes to market development. We led the Solar-Power-As-A-Service (SPAAS) market over the last few years and today we have 200+ customers. Similarly, we see a great opportunity in the open electricity market for Renewable sources and will continue to adapt to the ever-evolving market” Said Sanjeev Aggarwal, MD& CEO of Amplus Solar.

The GTAM platform, by being renewable centric, also makes it possible for buyers to pick and choose between renewable and thermal power for instance, to meet energy needs. Another upside of allowing this source-based differentiation is that it paves the way for transparent price discovery of electricity based on its source of generation. With renewable making huge strides in affordability, in many cases, firms might actually go for it just for the lower price now.

The new Term – Ahead trade, along with the waiver of ISTS charges announced by the Ministry of Power, will further help the growth of this RE market.

For firms like Amplus Energy,which has served its clients through both on-site and off-site solar installations, the exchange comes at a critical time, when power demand is down. With some client sites possibly curtailing needs, the firm, where possible, can hope to earn out something for the power produced everyday. Exchange  spot rates have reflected this reality, with power prices being very low, but still a better way out than nothing effectively. For Amplus, and many others like it on the commercial and industrial segment of renewable energy generation and sales, the GTAM platform was a must have, to develop more avenues for selling their surplus power.