New Age Markets in Electrical energy, an over-the-counter platform for energy, is hopeful of getting 25 energy distribution firms on board by the top of 2024-2025 fiscal.
Ashish Shrivastav, Vice-President (Enterprise Operations) of New Age, informed The Hindu on Friday that 13 State utilities are registered on its platform for the ability swapping/banking product that it launched final November. Of the 55,000 million models of electrical energy listed on New Age up to now, selections have been taken for 550 million models. It would launch purchase/promote service subsequent month and hopes to have 100 energy merchants, renewable mills, and so forth, registered for this product throughout FY 25. By the top of the present monetary yr, the corporate will launch capability reserving service the place energy mills can provide their capacities for long run contracts.
New Age launched industrial operations in November 2023 and registered ₹1 crore income. It’s focusing on ₹8 crore income this yr, he mentioned.
