Mumbai: Power Exchange India Ltd (PXIL) on Wednesday said it has signed a memorandum of understanding (MoU) with Korea Power Exchange (KPX) to explore business collaboration for strategic initiatives in overseas power markets.

Through this MoU, both the organisations can synergise their efforts in taking forward their expertise and knowledge for offering effective solutions to power markets at national and international level, PXIL said in a statement.

"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 to create a benchmark in the areas of operations and product offerings," PXIL Managing Director and CEO Rupa Devi Singh said.

The association will help sharing of information regarding power markets, cooperation on improvements of competitive electricity markets, training employees to enhance their understanding of the electricity markets along with expertise, including the new business initiatives like renewable energy certificates (REC) trading.

"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.

"We hope this collaboration and PXIL's high performance will help us understand the operations of Indian electricity market," KPX Chairman and CEO Ho-Ki Nam said.


Latest News from Business News Desk