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Four firms sign MoU for power exchange

NEW DELHI: National Thermal Power Corporation (NTPC), National Hydro Power Corporation (NHPC), Power Finance Corporation (PFC) and Tata Consultancy Services (TCS) on Saturday signed a memorandum of understanding (MoU) for the incorporation of a joint venture company to set up and operate a national level Power Exchange.

The company will be registered as a public limited company with an authorised capital of Rs. 50 crore. The Power Exchange will provide a neutral and transparent electronic platform for trading of power on ‘Day Ahead Basis’ and ensure clearing of all trades in an efficient manner with access to all the players in the power market.

The MoU was signed between the four companies in the presence of R. S. Sharma, Chairman and Managing Director, NTPC; A. B. L. Shrivastav, Director (Finance) NHPC; R. K. Jain, Director, NTPC; S. Nagarajan, Executive Director (Finance) PFC; and Jagdish Bhandari, Vice-President, TCS. Earlier, NTPC had planned to partner NCDEX to float a power exchange.

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