Other Private Equity/Strategic Investments
NTPC arm NVVN acquires 5% stake in Power Exchange of India
New Delhi-based NTPC Vidyut Vyapar Nigam Ltd (NVVN), a wholly-owned subsidiary of state-run power major NTPC, has acquired a 5% equity stake in Mumbai-based Power Exchange of India (PXIL). PXIL and India Energy Exchange (IEX) are the two power exchanges in the country and as per Central Electricity Regulatory Commission (CERC) norms, a trading member's shareholding in the power exchange is capped at 5%. However, a non-member's shareholding can go up to 25%. NVVN is one of India's top power traders. It was formed by NTPC in the year 2002, as its subsidiary to tap the potential of power trading in the country.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
