NVVN Acquires 5% stake in Power Exchange of India
NTPC Vidyut Vyapar Nigam (NVVN) a wholly-owned subsidiary of NTPC Ltd. has announced acquisition of 5% stake in Power Exchange of India (PXIL).
NVVN was formed by NTPC in 2002 to tap the potential of power trading in the country. PXIL is India’s first institutionally-promoted power exchange, promoted by NSE Investment Ltd & NCDEX, and has been providing trading solutions since 2008.
Power exchange provides a platform for buyers and sellers of electricity to enter into spot contracts for the same day, coming day, and on a weekly basis up to 11 days.