Indian, Korean groups to collaborate in exploring overseas markets

Power Exchange India and Korea Power Exchange will collaborate on exploring strategic initiatives in overseas power markets.

Through an MoU, both the organizations can synergise their efforts in taking forward their expertise and knowledge for offering effective solutions to power markets, PXIL said.

“We are hopeful that this association will help our objective of transforming the Indian electricity market. This MoU will bring in a global perspective which will help us create a benchmark in the areas of operations and product offerings”, said Rupa Devi Singh, Managing Director and CEO, PXIL.

The priority areas identified for joint working and cooperation are: sharing of information regarding power markets, cooperation on improvements of competitive electricity markets, training employees to enhance their understanding of the electricity markets and sharing of expertise including the new business initiatives like REC trading.

Ho-Ki Nam, Chairman and CEO, KPX added “As a neutral entity, KPX has played an important role in developing the electricity market in South Korea. With this MoU in place, it will broaden the area of mutual cooperation between KPX and PXIL. I truly hope that this collaboration and PXIL’s high performance will help us in understanding the operations of Indian electricity market."