Indian Energy Exchange ties up with US power major PJM Technologies
Indian Energy Exchange Ltd. (IEX), the leading provider of technology products in the exchange segment, has entered into a tie-up with the PJM Technologies Inc, the largest power system operator-cum-market operator in the US.
IEX and PJM, under the proposed tie-up, would explore business collaboration opportunities and knowledge sharing as well as emphasising on joint training programmes for professionals in the power sector in India and neighbouring countries.
Rajesh K Mediratta, Director (Business Development), IEX and Andrew Ott, Sr.VP, PJM signed the MoU on behalf of IEX and PJM Technologies at ongoing APEx Conference 2012. By signing this MoU, IEX wishes to bring the best international practices in the power trading sector to India.
“IEX has always been at the forefront in efforts to pave way for a robust and competitive power market in India,” Venkat Chary commented on the signing of the MoU with PJM Technologies. “I am confident that with the strengthening of ties between the PJM and IEX, we will be able to harness the innovation potential and develop products that meet the changing demands of the Indian and regional electricity markets.”
Andrew Ott said, “PJM has vast experience in operating the largest competitive marketplace in the American continent. We will bring our competence to the Indian Marketplace through this cooperation agreement. We expect in the course of this association, the two large trading platforms in the US and India will commence a relationship of mutual cooperation. I am hopeful that this collaboration will also help us in understanding the nuances of the Indian electricity market and work towards facilitating cross-border transactions.”
