With this launch, IEX Green Market now has four contracts, and offers greater choice to the market participants to buy renewable energy on the same day and upto 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 trading in energy terms will help to address the intermittency issues involved in renewable energy procurement. Further, this will also assist market participants to minimise deviations as well as related penalties. The energy will be delivered leveraging the national, regional and state level transmission network.