The ever-increasing demand for green energy sources encourages wind farms to participate in the energy market through long-term contracts. This paper discusses the existing frameworks of the wind energy market and presents the strategies to integrate wind energy into the grid through the valuable power purchase agreement (PPA). Critical observations reveal that the opportunities of the short-term energy market remain unexplored for wind farms till date. To promote more investments and to enhance the operating economy, the wind energy sector must adapt to the sporadic nature of generation in the day-ahead energy market. The selection of accurate PPA for wind farms is a potent area of research and has encouraged the authors to explore this area vividly. In view of this, the main objective of the article is to develop a day-ahead sleeved PPA model and to evaluate its effectiveness in the Indian energy market. To correlate the proposed model with practicality aspects, seasonal wind speed scenarios are forecasted using the sARIMA model for a practical wind farm. The performance of the employed sARIMA model is evaluated through proper comparative assessment with other models. Thereafter to validate the importance of the developed PPA, a detailed comparative analysis is carried out with the existing long-term PPA. Further, the potentiality of the proposed sleeved PPA is compared with its other counterparts. Result analysis confirms the usefulness of the proposed PPA model in maximizing the economy of the renewable energy market entities.
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