Indian Energy Exchange

Waaree Energies board approves Rs 850 cr investment in energy facilities

Waaree Energies Ltd on Monday said its board has approved three investment proposals aggregating Rs 850 crore to set up electrolyser and storage cell manufacturing facilities. The board also approved capital expenditure (capex) of Rs 130 crore in invertor business through its wholly-owned subsidiary Waaree Power Private Limited. The board approved "capital expenditure of Rs 551 crore and investment of Rs 200 crore for 300 MW electrolyser manufacturing plant in its wholly-owned subsidiary Waaree Clean Energy Solutions, under the PLI Scheme," Waaree Energies said in an exchange filing. It also approved a capital expenditure of Rs 2,073 crore and an investment of Rs 650 crore for setting up a 3.5 GWh Lithium-Ion Advanced Chemistry Storage Cell manufacturing plant in its wholly-owned subsidiary Waaree Energy Storage Solutions. The capex will be funded by a mix of debt and internal accruals, the company said. The board further approved the appointment of Amit Paithanka, Chief Executive

Indian Energy Exchange electricity trade volumes up 4% at 9,642 MUs in Oct

Indian Energy Exchange's (IEX) total trade volume rose 4 per cent year-on-year to 9,642 million units (MU) in October this year. During the month, the exchange-traded 4.44 lakh renewable energy certificates (RECs), recording a 105 per cent year-on-year increase. It has achieved electricity traded volume of 9,642 million units (MU) in October 2024, marking a 4 per cent year-on-year increase, IEX said in a statement. A total of 4.44 lakh RECs were traded in the trading sessions held on October 9 and 30 at a clearing price of Rs 110/REC and Rs 120/REC, respectively. The Day-Ahead Market (DAM) volume declined 7 per cent to 4,388 MU in October from 4,742 MU volume in the same month last year. The Real-Time Electricity Market (RTM) achieved a monthly volume of 3,123 MU in October 2024 compared to 2,402 MU a year ago, a rise of 30 per cent. IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 872 MU volume during October 2024 against 188 MU in

Indian Energy Exchange Q2 results: Net profit rises 25% to Rs 108.32 cr

Indian Energy Exchange (IEX) on Thursday posted over 25 per cent rise in consolidated net profit at Rs 108.32 crore for the quarter ended September 30, 2024 compared to the year-ago period mainly due to higher revenues. The company had reported a consolidated net profit of Rs 86.46 crore in the quarter ended on September 30, 2023, a regulatory filing showed. Total income rose to Rs 167.76 crore in the quarter in the quarter under review, from Rs 132.97 crore in the same period a year ago.

IEX tanks 12% on reports of govt's plan to implement market coupling

IEX doesn't see any merit in market coupling for power exchanges and believes that there will be more complexities in its implementation, than gains.

IEX trade volume increases by nearly 36% to 12,040 mn units in Aug

Indian Energy Exchange (IEX) total trade volume rose 35.8 per cent year-on-year to 12,040 million units (MU) in August this year. The electricity volume increased 17.1 per cent year-on-year to 9,914 MU in August, an IEX statement said. According to the statement, IEX achieved total (trade) volume (including certificates) of 12,040 MU in August 2024, marking a 35.8 per cent year-over-year increase. The renewable energy certificates (REC) at 2,116 MU, increased 737.4 per cent year-on-year. At Rs 115 per certificate, the REC market recorded an all-time low price in the trading session held on August 28, 2024. These prices provide an opportunity to obligated entities (DISCOMS and Captive Power Producers) to meet their renewable purchase obligations, and voluntary customers to meet their sustainability aspirations. As the monsoon gained momentum in August, there was a substantial increase in hydro and wind power generation, enhancing the overall availability of renewable energy in the

IEX board reappoints SN Goel as CMD, promotes Rohit Bajaj as Joint MD

Indian Energy Exchange (IEX) board on Friday approved the proposal to reappoint Satyanarayan Goel as its Chairman and Managing Director and to appoint Rohit Bajaj as its Joint Managing Director. The board noted that Goel will attain the age of 70 years on August 10, 2024, and consequently, as per Companies Act, 2013, his term as Managing Director will end from the closure of the business hours on August 9, 2024, a BSE filing said. The board acknowledged Goel's extensive knowledge and over 40 years of experience in the power sector, it said, adding that as part of succession planning, the board unanimously agreed to reappoint Goel as the Chairman & Managing Director for three years from August 10. The board decided to elevate Rohit Bajaj, currently serving as Executive Director (non-board) -- Business Development, Strategy, Regulatory Affairs, and IT, as the Joint Managing Director for three years from August 10, it stated. The board also approved appointment of Rajeev Gupta as the

IEX Q4 results: Net profit rises 9.5% to Rs 97 cr on higher income

The Indian Energy Exchange (IEX) has posted a 9.5 per cent rise in consolidated profit after tax at Rs 96.7 crore for the March 2024 quarter on account of higher income. It had clocked Rs 88.34 crore profit after tax (PAT) during the fourth quarter of the last fiscal, the company said in an exchange filing on Wednesday. The company's total income rose to Rs 149.28 crore, from Rs 129.58 crore in January-March FY23. During the period under review, its expenses stood at Rs 22.65 crore, as against Rs 19.52 crore a year ago. In FY24, the consolidated PAT rose 14.7 per cent to Rs 350.78 crore, from Rs 305.88 crore in FY23. Income for the full year was at Rs 550.84 crore, up from Rs 474.10 crore. The Board of Directors of the company announced a final dividend of Rs 1.50 for FY24. Sharing business updates, IEX said 110.1 billion units of electricity traded on its platform during the fiscal year 2023-24, registering a year-on-year (y-o-y) increase of 13.7 per cent. The DAM (day-ahead ma

Indian Energy Exchange Q3 results: Net profit up nearly 19% at Rs 92 cr

The Indian Energy Exchange on Thursday posted a nearly 19 per cent rise in consolidated net profit at Rs 91.80 crore in the December quarter, compared to the year-ago period mainly on the back of higher revenues. Its consolidated net profit was Rs 77.21 crore in the quarter ended December 31, 2022, according to a regulatory filing. The total income rose to Rs 141.21 crore in the quarter, from Rs 117.34 crore in the same period a year ago. Board of Directors in its meeting held on Thursday have declared an interim dividend of Rs one per share (on equity share of par value of Re 1 each) for FY 2023-24.

Stocks to Watch today, Jan 4: Adani Ports, NTPC, LIC, IT, Vedanta, OIL, IEX

Stocks to Watch on Thursday, January 4, 2024: The board of directors of Adani Ports and Special Economic Zone Limited (APSEZ) has approved raising funds up to Rs 5,000 crore

IEX total trade volume jumps 18% to 9,136 million units in November

The Indian Energy Exchange (IEX) on Monday posted 17.5 per cent growth in its overall trade volume to 9,136 million units (MU) in November 2023 as compared to the year-ago period. The exchange had recorded total trade volume of 7,764 MU in November 2022, as per IEX data. "IEX achieved 9,136 MU overall volume, including 7.55 lakh Renewable Energy Certificates (RECs) (equivalent to 755 MU), marking a 17.5 per cent increase on YoY (year-on-year) basis," an IEX statement said. IEX achieved 8,371 MU total electricity volume in November 2023, registering an increase of 13 per cent on YoY basis. Market clearing price in Day Ahead Market (DAM) during November 2023 was Rs 3.98 per unit, down 13 per cent year-on-year, due to various factors including lower demand owing to festive season, temperature drop and improved sell side liquidity on the exchange, it stated. Price on the exchange has been experiencing a downward trend and the average monthly price is at its lowest level this financia

Indian Energy Exchange to acquire 10% in Enviro Enablers India Pvt Ltd

EEIPL, through this deal will be able to augment the value offering of its Material Waste Platform (MWP)

Indian Energy Exchange's overall trade volume grew to 9,147 MU in Sept

Indian Energy Exchange (IEX) logged around 13 per cent growth in overall trade volume to 9,147 million units (MU) in September. It reported an overall trade volume of 8,116 MU in the year-ago period, an IEX statement said on Wednesday. IEX achieved 9,147 MU overall volume, including green market trade of 230 MU, 5.15 lakh RECs (Renewable energy certificates, equivalent to 515 MU) and 1.06 lakh ESCerts (energy saving certificates, equivalent to 106 MU). According to the statement, the overall volume traded during the month increased 13 per cent on a Year-on-Year (YoY) basis. The demand momentum witnessed in August 2023 continued in September 2023, it stated. For the second quarter of the fiscal year 2023 (July-September), the IEX achieved 26,533 MU, resulting in 15 per cent YoY growth across market segments. The Day-Ahead Market (DAM) achieved 3,467 MU volume in September. The average market clearing price was Rs 6.23 per unit in September as compared to Rs 5.63 per unit in Septem

More than 100 paper mills likely to come under PAT scheme: IPMA official

More than 100 paper mills are expected to come under the energy efficiency scheme Perform Achieve and Trade (PAT) by next year as players are adopting technology to reduce their energy footprint, an industry body said on Wednesday. The paper industry has reduced its specific energy consumption by 20 per cent in the last five years, the Indian Paper Manufacturers Association (IPMA) said in a statement. Integrated paper mills in India are generating over 40 per cent of the power consumption by utilising the biomass from the pulping process, the IPMA said. "More than 100 paper mills are expected to come under the ambit of the PAT scheme in the next one year, IPMA Vice President Vadiraj Kulkarni said in his address at Paper Tech 2023. Specific water and energy consumption is being reduced continuously to lessen the carbon footprint, he added. IPMA said it has welcomed the government's Carbon Credit Trading Scheme 2023 under which an Indian Carbon Market would be constituted. The exis

Food security to hydrogen transport: Formats exist for IMEC's success

India's initiatives have already laid some of the groundwork for the proposed infrastructure corridor

HDFC Bank, Adani Ent, IEX among 6 stocks to cross 200-DMA in last 2 days

Overall, as many as 464 stocks among the Nifty 500 were seen trading above the 200-DMA highlighting the underlying positive sentiment in the market.

IEX trade volume rises over 13% to 8,865 million units in August

Indian Energy Exchange's total trade volume rose by over 13 per cent year on year to 8,865 million units in August. The total trade volume of IEX stood at 7,805 million units (MU) as per its data. "IEX attained 8,865 MU overall volume, including green market trade of 242.3 MU, ancillary market trade of 40MU, 2.53 lakh RECs (equivalent to 253 MU) and 1.03 lakh ESCerts (equivalent to 103 MU)," an IEX statement said. The overall volume traded during the month increased to 13.3 per cent on YoY (year on year) basis. IEX achieved 8,469 MU total electricity volume in August 2023, registering an increase of 21 per cent on YoY basis, the statement said. In August 2023, the country experienced its lowest August rainfall since 1901, resulting in hot weather conditions. This, in turn, led to an unprecedented surge in electricity demand during the month, it explained. Due to the combination of higher demand and supply constraints, prices on IEX during the month reached Rs 6.89/unit, marking a

Indian Energy Exchange net profit up by 10% to Rs 76 crore in June quarter

Indian Energy Exchange on Thursday posted a 10 per cent increase in consolidated net profit to Rs 75.82 crore in the June quarter on the back of higher revenues. The consolidated net profit of the company was Rs 69.12 crore in the first quarter of the previous fiscal, according to a BSE filing. Total income of the company rose to Rs 127.36 crore in the first quarter of the current fiscal from Rs 113.39 crore a year ago. The exchange's board has approved the re-appointment of Sudha Pillai and Tejpreet Singh Chopra as non-executive independent directors for another five years after their respective terms end next year. The current term of Pillai will expire on April 25, 2024 and that of Chopra on March 4, 2024.

Indian Energy Exchange trade volume grows 8% to 8,251 mn units in May

The total trade volume of the Indian Energy Exchange grew by 8 per cent year-on-year to 8,251 million units (MU) in May. The average spot power price during May 2023 was 30 per cent lower at Rs 4.74 per unit against Rs 6.76 per unit in May 2022, due to an improving supply-side scenario, leading to increased liquidity, and cooler weather conditions. "Indian Energy Exchange achieved 8,251 MU overall volume in May 2023, including green market trade of 358 MU, 1.42 lakh RECs (equivalent to 142 MU) and 2.02 lakh ESCerts (equivalent to 202 MU). The overall volume during the month was higher by 8 per cent on YoY (Year-on-Year) basis," an IEX statement said. While an increase in power demand is expected in the coming months, the supply-side liquidity is likely to further improve due to enhanced coal supply, reduction in e-auction coal prices and consistently declining imported coal and gas prices. This will lead to competitive prices and higher clearance for Discoms and Open Access consume

Indian Energy Exchange trade volume grows 6% to 7,928 mn units in Apr

Indian Energy Exchange (IEX) on Thursday said its total trade volume increased by 6 per cent on a yearly basis to 7,928 million units (MU) in April. In a statement, the power trading exchange said "it achieved 7,928 MU overall volume in April 2023, including green market trade of 280 MU, 1.99 lac RECs (equivalent to 199 MU) and 1.23 lac ESCerts (equivalent to 123 MU)." The overall volume during the month was higher 6 per cent on a year-o-year (y-o-y) basis. The price during April 2023 was Rs 5.41 per unit unit, a fall of 46 per cent y-o-y from Rs 10 a unit in April 2022, due to improving supply-side scenario leading to increased liquidity, as well as cooler weather conditions. Trade commenced at the High Price DAM (HAM) segment, with 193 MWh (megawatt hour) volume during the month. This segment allows high-cost generators, such as -- gas-based power generators, imported coal-based plants and battery-energy storage systems -- to sell electricity on the market. While an increase in

Indian Energy Exchange trade volume dips 4% YoY to 9212 mn units in March

Indian Energy Exchange's total trade volume declined by 4 per cent to 9,212 million units (MU) in March compared to the same month a year ago. On a month-on-month basis, the trade volume rose by 12 per cent, a statement said. Indian Energy Exchange achieved 9,212 MU overall volume in March 2023, including green market trade of 391 MU, 8.69 lac RECs (equivalent to 869 MU) and 22,881 ESCerts (equivalent to 23 MU), a statement said. The (average spot power) price during March 2023 was Rs 5.25 per unit, lower 23 per cent on MoM basis, due to cooler weather conditions, it explained. The IEX achieved 26,052 MU volume across all segments during Q4 FY '23 (January-March 2023), growing 7 per cent over the previous quarter. Cumulatively for the fiscal year 2023, the IEX traded 96.8 BU (billion units), a degrowth of 5 per cent YoY basis, despite a highly constrained sell-side liquidity, which led to the price increasing by 35 per cent on YoY basis, it explained. The Day-Ahead Market (DAM)