Indian Energy Exchange wins “Innovative 100” Award for Innovation and Impact

Dec. 23, 2013 - PRLog -- 23 December, 2013, New Delhi: Indian Energy Exchange is proud to be awarded the “Innovative 100 Award” by Inc. India, for the qualitative impact of its innovative actions, ideas, approaches and tools that have brought about breakthroughs in the Indian power market setting examples for others to emulate. Apart from IEX, Inc. India also awarded other mid-sized companies with net sales between Rs 50 crore and Rs 1,500 crore in the most recent accounting year, for being the trailblazer in their respective areas.

Dr. Pramadh Raj Sinha, Founder and MD, 9 dot 9 media (Inc. India) and Professor Prithwiraj Choudhury, Assistant Professor, Harvard Business School, conferred the Award on IEX at a ceremony held in the Capital on 20 December, 2013.

Accepting the award on behalf of IEX, Mr. Rajesh K. Mediratta, Director, Business Development, IEX, said,”IEX has been a pioneer in setting up and operating a state-of-the-art energy marketplace that is nationwide, electronic, transparent, competitive and neutral, for the ultimate benefit of all the stakeholders. With Innovation and dynamism at the core of our operations, today, IEX is facilitating 2600+ stakeholders spread across 27 States and 5 UTs of which 2300+ are industrial open access consumers, to buy and sell electricity in the most competitive and reliable way”.

“The Indian Energy Exchange has revolutionized the way in which electricity is traded in the country. The robust market dynamics and qualitative impact of its actions have indeed helped the power sector become more competitive and efficient.  The success with which IEX managed to replicate and scale up its business is clearly reflected in the market leadership maintained consistently year after year since 2008”, said Ms.  Shreyasi Singh, Managing Editor, Inc. India .

An independent jury of academics, financial investors and serial entrepreneurs evaluated and assessed the nominations and arrived at a final list of 100 most innovative mid-sized companies. The Award Jury panel comprised of: Mr. L. Natarajan, CEO – New Business, Titan Industries, Mr. Rahul Chandra, Co-founder, Helion Ventures, Mr. Shubhro Sen, Founder, Tata Management Training Centre, Ms. Vani Kola, Founder, Kalaari Capital, Mr. K. Ganesh, Serial Entrepreneur and investor, Mr. Rishikesha Krishnan, Professor – Innovation, IIM Bangalore and Mr. Punit Modhgil, Ex-Director, Advertising and Online, Microsoft India.

About Inc. India:

Inc. India is the Indian edition of Inc., the leading US magazine that focuses on entrepreneurship and growth. Focused on the rapidly-growing mid-sized enterprises in India, it has been chronicling the stories of this community, and serving as a resource base for its members since January 2010.

About IEX:

IEX is India’s premier power trading platform. Providing a transparent, neutral, demutualized and automated platform for physical delivery of electricity, IEX enables efficient price discovery and price risk management for participants of the electricity market, including industries eligible for open access. Today, over 2600 participants across utilities from 27 States, 5 Union Territories (UTs), 500+ private generators and more than 2300 open access consumers are leveraging the exchange platform.