The Indian Energy Exchange (IEX) has been the talk of the town with its remarkable performance in October and Q2 of the fiscal year 2023-24. The company’s shares have seen a significant rally, gaining over 5% following the announcement of these positive figures. IEX Power-Packed October In October, IEX recorded a total electricity volume of 9,260 MU, a noteworthy 21% increase compared to the previous year. This includes 2.17 lakh Renewable Energy Certificates (RECs) equivalent to 217 MU and 5,814 Energy Saving Certificates, which account for 5.8 MU. The nation’s energy consumption hit 139 billion units in October, driven by increased consumption, below-average rainfall, and a lower base in the same period last year. This surge in power demand led discoms to actively purchase power on the exchange, resulting in a significant increase in trade volumes on IEX. IEX Q2 Results: A Bright Spark On November 2, IEX released its Q2 results, showcasing a 21.4% year-on-year increase in...

Shyam Metalics: Leading the Charge in India’s Energy Storage Sector with Aluminium Foil Innovation Shyam Metalics & Energy Limited, a leading integrated metal producer based in Kolkata, has made a significant announcement that marks its entry into the energy storage sector. The company is gearing up to produce battery-grade aluminium foil, a critical component in lithium-ion cells. This move aligns with the government’s AatmaNirbhar Bharat initiative, positioning Shyam Metalics as one of the first large-scale domestic contributors to this sector. The Role of Aluminium Foil in Lithium-Ion Cells Aluminium foils serve as current collectors in lithium-ion batteries. They are preferred for their lower specific gravity, lower electrical resistivity, and higher heat conductivity. Recent advances in rolling and alloy manufacturing technologies have enabled the production of uniformly thick, high-strength battery aluminium foil. For the p...