Indian Energy Exchange Unit Signs Issuer Agreement With International Tracking Standard Foundation

Indian Energy Exchange's wholly owned subsidiary has entered into an issuer agreement with the International Tracking Standard Foundation.

Through this agreement, International Carbon Exchange Pvt., or ICX, has the authority to act as a local issuer of international renewable energy certificates or I-RECs, in the Indian market, according to an exchange filing on Monday.

In this role, ICX will need to register production facilities and issue I-RECs, using the registry managed by Evident for India, it said.

International Tracking Standard Foundation is a non-profit organisation that gives a robust standard for developing tracking systems. It ensures the highest quality systems and adherence to best practices, designed to prevent double counting, double certificate issuance, and double attribute claims.

Indian Energy Exchange Ltd.'s electricity volume rose 19% year-on-year to 28,178 mega units in the first quarter of fiscal 2025. Electricity volume jumped 24.7% to 10,185 mega units in the month of June, according to a business update.

Shares of Indian Energy Exchange closed 0.12% lower at Rs 203.35 apiece, compared to a 0.24% rise in the benchmark BSE Sensex.