Before 2008, the year that Indian Energy Exchange (IEX) was founded, distribution companies in India were unable to meet their obligations over long-term contracts, resulting in a fractured supply chain.
Price discovery wasn't designed with real time analytics in the background.
Almost 13 years later, IEX, which provides a nationwide, automated trading platform for physical delivery of electricity, renewable energy certificates and energy saving certificates, has invested into new-age digital solutions.
The government-led company positions itself as an enabler in the country’s “Power for All (24x7)”, and the “One Nation, One Gas Grid” initiatives, CTO Sangh Gautam told TechCircle in an interview.
The solutions at the NSE and BSE listed company, including advancement and exploration in areas of robotic process automation (RPA), open source technologies, member application programming interfaces (API), smart power procurement, analytics, and Blockchain MoUs are expected to help in peer-to-peer (P2P) trading in the marketplace in new forms of energy such as solar power, he said.
The C-suite executive holds over 20 years of experience in the technology industry, having worked across various domains -- telecom (Tellabs), product companies (Adobe, LinkedIn), ecommerce (Amazon), analytics (Guavus), and recruitment domain (Shine.com).
Prior to joining Indian Energy Exchange in 2019, Gautam worked at HT Media as CTO News.