Latest news with #RECs
Mint
a day ago
- Business
- Mint
IEX share price jumps over 4% after strong growth in electricity trade volumes. Should you buy?
Indian Energy Exchange (IEX) share price rallied over 4%, extending gains for the second consecutive session, after the company reported strong growth in electricity trade volumes. IEX share price surged as much as 4.70% to a high of ₹ 211.75 apiece on the BSE. IEX reported over 14% growth in electricity traded volume at 10,946 million units (MU) in May as compared to 9,568 MU in the year-ago period. A total of 17.43 lakh Renewable Energy Certificates (RECs) were traded during the month, registering a 65% year-on-year (YoY) increase, IEX said in a regulatory filing. Market clearing price in the Day Ahead Market (DAM) was at ₹ 4.12 per unit during May 2025, a decline of 22% YoY. Market clearing price in the Real Time Market fell 28% YoY at ₹ 3.43 per unit last month. The DAM achieved 3,510 MU volume last month, a decline of 20% from 4,371 MU volume in May 2024. The Real-Time Electricity Market (RTM) reported the highest ever monthly traded volume as the volume increased to 4,770 MU in May 2025 from 3,352 MU a year ago, an increase of 42%. Electricity derivatives are expected to complement the spot market (where IEX is present) over time by drawing in more participants, analysts said. 'Parallelly spot power requirement from renewable integration, real time balancing thereby stabilizing or even increasing spot volumes as seen in EU. IEX's business offers optionality as it aims to launch Green RTM product, 11-month contract (40 BU opportunity) International Carbon Exchange, and Coal Exchange. Over the mid to long term, an uptick in renewable power (from 44% share in FY24 to 60% by FY30) offers continuous opportunity for volume uptick for power exchanges in India,' said Antique Stock Broking. IEX has net cash on the balance sheet at ₹ 1,000 crore and a RoE of 40%. At a PER of 32x FY27E EPS, IEX share price is trading near its historical average, said the brokerage firm. It models 17% annual volume growth over FY26–27E, leading to a similar increase in PAT. Valued at 40x FY27E EPS, Antique Stock Broking maintains a 'Buy' rating on IEX shares with a target price of ₹ 254 apiece. IEX share price has broken out of a 22-week-long double bottom flat base at ₹ 191 and is now heading towards the major resistance at the swing high of ₹ 229, noted Anshul Jain, Head of Research at Lakshmishree Investments. 'Post breakout, IEX stock price has formed a minor base, which is acting as a propeller for continued momentum. The structure remains bullish, supported by strong price action, and further upside is expected as long as the stock sustains above its breakout zone,' Jain said. IEX share price has gained 28% in three months and 16% on a YTD basis. IEX stock has delivered 71% returns in two years and multibagger returns of 281% in five years. At 9:55 AM, IEX share price was trading 4.70% higher at ₹ 211.75 apiece on the BSE. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Yahoo
5 days ago
- Business
- Yahoo
West Michigan based ESPEC North America, Inc. Joins Consumers Energy's Renewable Energy Program
JACKSON, Mich., June 5, 2025 /PRNewswire/ -- Consumers Energy and ESPEC North America, Inc. announced a partnership to power the West Michigan based environmental and reliability testing equipment manufacturing company with clean energy and bring new renewable energy into Michigan's electric grid. Under Consumers Energy's Renewable Energy Program, major electricity accounts at ESPEC North America will source renewable energy from new Consumers Energy Michigan-based wind and solar projects beginning in 2028. ESPEC North America can also claim the Renewable Energy Certificates (RECs) tied to the projects, further reducing the company's carbon footprint and advancing its commitment that innovation and environmental responsibility must go hand in hand. "We commend ESPEC North America for making the commitment to match 100% of the energy it uses with renewable energy from Consumers Energy," said Lauren Snyder, Consumers Energy's senior vice president, chief customer and growth officer. "Together, we're making a meaningful impact in adding flexible generation sources to Michigan's grid while fostering economic growth and creating jobs." Joining the Renewable Energy Program, ESPEC North America says is essential not only for protecting our planet for future generations but also for ensuring the long-term sustainability of the industries it serves, helping the company strengthen its ability to innovate responsibly, reduce its environmental footprint, and align with the global Environmental Vision 2050 of its parent company, ESPEC Corp. "At ESPEC North America, we are committed to doing our part to advance environmental sustainability through meaningful action. We are unique in our contribution to the global clean energy push as we have numerous partners whom we serve in their endeavors to develop new and innovative renewable energy solutions," said Luke Polega, President, ESPEC North America. "Partnering with Consumers Energy allows us to invest in some of those solutions and begin to see results that have a real impact on our environment." In total, the over 50 businesses that Consumers Energy serves have committed to over 700 megawatts of emission-free renewable energy supporting their sustainability goals. That's enough generation to power approximately 84,000 homes each year and equivalent to removing greenhouse gas emissions produced from over 190,500 cars on the road annually from the environment, according to U.S. Environmental Protection Agency calculations. ESPEC North America joins notable Michigan program participants, including General Motors, Interlochen Center for the Arts, and the cities of Grand Rapids and Kalamazoo, among others, in accelerating the development of green energy infrastructure. Consumers Energy's Renewable Energy Program offers a local, cost-effective, flexible, and turnkey solution for businesses looking to align with sustainability goals while supporting the planet for future generations. Enrollment not only advances greening Michigan's grid but also supports Michigan jobs created through building and operating renewable energy projects. Learn more by contacting RenewableProgram@ Consumers Energy is Michigan's largest energy provider, providing natural gas and/or electricity to 6.8 million of the state's 10 million residents in all 68 Lower Peninsula counties. For more information about Consumers Energy, go to out Consumers Energy on Social Media Facebook: Instagram: View original content to download multimedia: SOURCE Consumers Energy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Standard
5 days ago
- Business
- Business Standard
Stock Alert: REC, Gland Pharma, Sansera Engg, Force Motors, CESC
Securities in F&O Ban: Manappuram Finance shares are banned from F&O trading on 5 June 2025. Stocks to Watch: RECs board has approved a proposal to raise up to Rs 1.55 lakh crore through the issuance of non-convertible debentures (NCDs) on a private placement basis, in one or more tranches. Force Motors total sales jumped 19.14% to 3,088 units in May 2025 compared with 2,592 units sold in May 2024. Domestic sales jumped 24.46% to 3,002 units while exports sales tumbled 52.22% to 86 units in May 2025 over May 2024. Sansera Engineering has secured an order worth Rs 160 crore from Airbus Defence for the manufacturing, supplying and supporting the Airborne Intensive Care Transport Module (ICTM) for light and medium transport aircraft programs. CESCs subsidiary, Purvah Green Power has entered into agreement with Envision Energy India for supply and commission of wind turbine generator (WTG) totaling 1 GW. Deccan Gold Mines associate company, Geomysore, received the consent to operate (CTO) for its Jonnagiri Gold Project from the Andhra Pradesh Pollution Control Board (APPCB). Gland Pharmas material subsidiary, Cenexi received 11 observations from Agence nationale de suritdu micament et des produits de sant(ANSM), France, for its Fontenay manufacturing facility.
Time of India
6 days ago
- Business
- Time of India
IEX electricity trade volume jumps 14% to 10,946 MU in May
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Indian Energy Exchange (IEX) on Wednesday said it has logged over 14 per cent growth in electricity traded volume at 10,946 million units (MU) in May as compared to the year-ago had achieved monthly electricity trade volume of 9,568 MU in May 2024, the company data showed.A total of 17.43 lakh Renewable Energy Certificates (RECs) were traded during the month, marking a 65 per cent year-on-year increase, an IEX statement clearing price in the Day Ahead Market was at Rs 4.12/unit during May 2025, a decline of 22 per cent year-on-year. Market clearing price in the Real Time Market fell 28 per cent year-on-year at Rs 3.43/unit last Day-Ahead Market (DAM) achieved 3,510 MU volume last month as compared to 4,371 MU volume in May 2024, a decline of 20 per Real-Time Electricity Market (RTM) reported highest ever monthly traded volume in May 2025 when the volume increased to 4,770 MU from 3,352 MU a year ago, an increase of 42 per Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, daily & weekly and monthly contracts up to 3 months, traded 1,684 MU in May 2025 as compared to 1,221 MU a year ago. IEX Green Market , comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 915 MU volume during the month under review as compared to 622 MU in May weighted average price in Green Day-Ahead Market (G-DAM) for May 2025 was Rs 3.59/unit.
Mint
6 days ago
- Business
- Mint
IEX electricity trade volume rises 14 pc to 10,946 million units in May
New Delhi, Jun 4 (PTI) The Indian Energy Exchange (IEX) on Wednesday said it has logged over 14 per cent growth in electricity traded volume at 10,946 million units (MU) in May as compared to the year-ago period. IEX had achieved monthly electricity trade volume of 9,568 MU in May 2024, the company data showed. A total of 17.43 lakh Renewable Energy Certificates (RECs) were traded during the month, marking a 65 per cent year-on-year increase, an IEX statement said. Market clearing price in the Day Ahead Market was at ₹ 4.12/unit during May 2025, a decline of 22 per cent year-on-year. Market clearing price in the Real Time Market fell 28 per cent year-on-year at ₹ 3.43/unit last month. The Day-Ahead Market (DAM) achieved 3,510 MU volume last month as compared to 4,371 MU volume in May 2024, a decline of 20 per cent. The Real-Time Electricity Market (RTM) reported highest ever monthly traded volume in May 2025 when the volume increased to 4,770 MU from 3,352 MU a year ago, an increase of 42 per cent. Day Ahead Contingency and Term-Ahead Market (TAM), comprising contingency, daily & weekly and monthly contracts up to 3 months, traded 1,684 MU in May 2025 as compared to 1,221 MU a year ago. IEX Green Market, comprising the Green Day-Ahead and Green Term-Ahead Market segments, achieved 915 MU volume during the month under review as compared to 622 MU in May 2024. The weighted average price in Green Day-Ahead Market (G-DAM) for May 2025 was ₹ 3.59/unit.
