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NTPC holds 16.67% in National Power Exchange

NTPC holds 16.67% in National Power Exchange
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First Published: Fri, Dec 12 2008. 02 42 PM IST
Updated: Fri, Dec 12 2008. 02 42 PM IST
PTI
Mumbai: State-run NTPC today said its joint venture firm with NHPC Ltd, Power Finance Corp and Tata Consultancy Services has been incorporated as National Power Exchange Ltd, and it holds 16.67% in the new entity.
“NTPC and NHPC contribute 16.67% equity each, Power Finance Corporation contributes 16.66% equity, while Tata Consultancy Services shall contribute 50% in the share capital of this company,” the company said in a filing to the Bombay Stock Exchange.
Earlier this year, the four companies had entered into a joint venture to set up and operate a national-level power exchange.
The exchange would also ensure clearing of all trades in an efficient manner, with access to all the players in the power market.
The JV firm would be registered as a public limited company with an authorised capital of Rs50 crore for setting up the power exchange to provide neutral and transparent electronic platform for power trading.
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First Published: Fri, Dec 12 2008. 02 42 PM IST