Indian Energy Exchange (IEX) rose 2.01% to Rs 409.45 after its green term-ahead market cumulatively traded 2,744 million units of renewable energy in its first year comprising of 1,267 MU volume in solar segment and 1,477 MU in non-solar segment.
The market discovered Rs 3.75 per unit as the average price with average solar price at Rs 3.48 per unit and average non-solar price at Rs 4.06 per unit."The green market has received an overwhelming response and reached a robust participant base close to 100 in a short span of time, IEX said in a statement.
The distribution companies from Karnataka, Telangana, Tamil Nadu and Himachal including RE generators like Choudhary Power, Bhilangana Hydro Power, Amplus Green, Adani Solar and MRN Cane Power are a few key participants on the sell side.
While the distribution companies like CESC Haryana, DNH, Tata Power Company and DVC along with industrial consumers like Vedanta, SAIL Jindal Steel and Tata Steel are key participants on the buy side.
Launched on 1 September 2020, the green market offers a robust value proposition like competitive prices, transparent and flexible procurement, as well as payment security to buyers and sellers.
Green power generators and distribution utilities who have surplus renewable energy are now participating in the market to sell this surplus to other deficit entities, facilitating them to meet their energy and RPO requirements in an integrated way.
IEX said the market has been a great leveler towards addressing the RE integration challenges.
On a consolidated basis, IEX reported 47.5% jump in net profit to Rs 62.10 crore on 34.1% rise in net sales to Rs 91.03 crore in Q1 FY22 over Q1 FY21.
IEX is the first and largest energy exchange in India providing a nationwide, automated trading platform for physical delivery of electricity, Renewable Energy Certificates (RECs) and ESCerts (Energy Saving Certificates).
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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