Abstract: Indian Energy Exchange Limited (IEXL) is a listed company in the Indian stock exchanges. The products it trade in are various forms of energy produced by renewable and non-renewable sources. IEXL was established in the lines of similar energy exchanges trading in various parts of the world. IEXL conducts energy auctions in the form of exchange trading of energy units with spot and future modes. The clients of this exchange include Govt., privately owned organizations as well as individuals. There are vendors of energy, again including both Govt. and privately owned organizations which sell energy on the exchange.
At the outset, the model appears to be following a known practice of trading in energy units as in developed countries. However, India has some unique challenges for this business model in terms of realization and closure of energy sale, the requirement to enforce timely payments for purchase of energy and the disparity in the speed of technological evolution taking place in different types of renewable energy being produced. 
This case study examines the sustainability of the IEXL in its current form and the nature of changes it may have to go through to remain relevant in the system.
• The IEX business model is unique to India, this case examines whether the model is on the path to achieve what it intends.
• Can the IEX business model replace the current way of Govt. to private, Govt. to Govt. energy trading where in the back log of payments hinder the progress of energy trade?
• Can the IEX business model become the pioneer for other products and services?