A surge in renewable energy in India is set to massively increase spot power trading, according to the country’s largest electricity bourse.
Buyers will increasingly turn away from traditional long-term contracts in favor of cheaper renewable energy, said Rohit Bajaj, head of business development at Indian Energy Exchange Ltd. More than a quarter of the nation’s electricity could be purchased through spot deals within a couple years, quadruple the current level.
Coal dominates Indian power generation but that is changing, with renewables accounting for more than 80% of new capacity last year, according to BloombergNEF.
