01 Sep 2020: PIB Summary & Analysis

September 1st, 2020 PIB:- Download PDF Here

TABLE OF CONTENTS

1. Indian Astronomers discover one of the farthest star galaxies in the universe
2. Australia-India-Japan Ministers’ meeting
3. Green Term Ahead Market (GTAM)

1. Indian Astronomers discover one of the farthest star galaxies in the universe

Context:

The discovery was made by a team of astronomers led by Dr Kanak Saha from the Inter-University Centre for Astronomy and Astrophysics (IUCAA) Pune.

Details:

• The galaxy, called AUDFs01, is 9.3 billion light-years away from Earth.
• The galaxy, one of the earliest, is located in the Extreme Deep field.
• Even though the observation was made in 2016, it took the scientists almost two years to analyse the data and ascertain that the emission was indeed from a galaxy.
• The scientists were able to discover the galaxy by detecting extreme UV radiation emanating from the galaxy.
• The discovery was made by the Indian space observatory AstroSat.
• It is remarkable that such faint UV radiation has been detected because usually, such low energy photons usually get absorbed on the way or by the earth’s atmosphere.
• Even the Hubble Space Telescope (HST) of NASA could not detect this probably due to noise.
• India’s AstroSat/UVIT was able to achieve this unique feat because the background noise in the UVIT detector is much less than in the HST.
• The discovery has been reported in the leading international journal “Nature Astronomy” published from Britain.

About AstroSat:

• AstroSat is India’s first space observatory.
• It is the first dedicated Indian astronomy mission aimed at studying celestial sources in X-ray, optical and UV spectral bands simultaneously.
• It enables the simultaneous multi-wavelength observations of various astronomical objects with a single satellite.
• AstroSat with a lift-off mass of 1515 kg was launched in 2015 into a 650 km orbit inclined at an angle of 6 degrees to the equator by PSLV-C30 from Satish Dhawan Space Centre, Sriharikota. The minimum useful life of the AstroSat mission is expected to be 5 years.
• The satellite is managed by the spacecraft control centre at Mission Operations Complex (MOX) of ISRO Telemetry, Tracking and Command Network (ISTRAC), Bengaluru.
• Objectives of the AstroSat mission:
  • To understand high energy processes in binary star systems containing neutron stars and black holes.
  • Estimate magnetic fields of neutron stars.
  • Study star birth regions and high energy processes in star systems lying beyond our galaxy.
  • Detect new briefly bright X-ray sources in the sky.
  • Perform a limited deep field survey of the Universe in the Ultraviolet region.

2. Australia-India-Japan Ministers’ meeting

Context:

Australia-India-Japan Ministers’ meeting on Supply Chains Resilience held.

Details:

• The Ministers reaffirmed their determination to take a lead in delivering a free, fair, inclusive, non-discriminatory, transparent, predictable and stable trade and investment environment and in keeping their markets open.
• In light of the COVID-19 crisis and the recent global-scale changes in the economic and technological landscape, the Ministers underscored the necessity and potential to enhance the resiliency of supply chains in the Indo-Pacific region.
• Recognizing the pressing need for regional cooperation on supply chain resilience in the Indo-Pacific, the Ministers shared their intention to work toward the launch of a new initiative to achieve the objective through cooperation.

3. Green Term Ahead Market (GTAM)

Context:

Union Power Minister launches the Green Term Ahead Market (GTAM) in electricity as a first step towards greening the Indian short term power market.

Background:

• In August 2020, the Central Electricity Regulatory Commission (CERC) had approved Green term ahead market (GTAM) contracts on the Indian Energy Exchange (IEX) platform.
• Though the renewable penetration in the country is increasing, the participation of renewable energy in the existing DAM and TAM segment has remained negligible (less than 1%), as there has been no segregation between conventional power and green power by the system and the realization going to the generator was at par with conventional power.
  • DAM: Day ahead market where transactions in electricity are allowed for a day in advance.
  • TAM: Term ahead market where electricity is traded the same day to up to 11 days in advance.
• Also, renewable developers would prefer to tie their generation in advance for longer periods with the consumers to ensure cash flows and project viability.

About GTAM:

• Green Term Ahead Market (GTAM) is an alternative new model introduced for selling off the power by the renewable developers in the open market without getting into long term PPAs.
• Also, reportedly, in the absence of a suitable trading platform before, it was observed that the Renewable Energy (RE)-rich States are either backing down RE or selling their surplus RE as conventional power which is leading to losses for both DISCOMS and RE generators.
• Thus, these RE generators and DISCOMS would now be able to access the new niche platform – GTAM – to sell their excess power.
• GTAM will allow the buyers and sellers to trade green power along with the fulfillment of RPO obligations.
• It is a much needed market-based support for renewable energy to achieve the ambitious target of 175 GW of renewables by 2022 as it will provide a new opportunity to RE merchant capacity to sell power and additionally, it would also help spawn new RE merchant plants.
• GTAM is the first exclusive product for the renewable energy sector in the world.

Key features of GTAM:

• Transactions through GTAM will be bilateral in nature with clear identification of corresponding buyers and sellers, there will not be any difficulty in accounting for RPO (renewable purchase obligation).
• GTAM contracts will be segregated into Solar RPO & Non-Solar RPO as RPO targets are also segregated.
• Further, within the two segments, GTAM contracts will have Green Intraday, Day Ahead Contingency, Daily and Weekly Contracts.
  • Green Intraday Contract & Day Ahead Contingency Contract – Bidding will take place on a 15-minute time-block wise MW basis.
  • Daily & Weekly Contracts
• Price discovery will take place on a continuous basis i.e. price time priority basis. Subsequently, looking at the market conditions open auction can be introduced for daily & weekly contracts.
• Energy scheduled through GTAM contract shall be considered as deemed RPO compliance of the buyer.

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September 1st, 2020, PIB:- Download PDF Here