NTPC Vidyut Vyapar Nigam acquires stake in Power Exchange of India Ltd
NTPC said that its fully-owned subsidiary NTPC Vidyut Vyapar Nigam (NVVN) has acquired a stake of 5% in Power Exchange of India Ltd (PXIL).
NTPC Vidyut Vyapar Nigam has bought the stake from NSE Investment Limited, which is a co-promoter shareholder of Power Exchange of India.
Power Exchange of India is said to be the first institutionally promoted power exchange in India. The company is promoted by NSE Investment and NCDEX. It has been providing power exchange solutions since 2008.
On the other hand, NTPC Vidyut Vyapar Nigam, which was founded by NTPC, is a power trader. By acquiring a stake in Power Exchange of India, NTPC Vidyut Vyapar Nigam will get a strategic opportunity to achieve and sustain a top position in the quickly changing power trading market.