Speed Post News Network
New Delhi : NTPC Vidyut Vyapar Nigam Ltd. (NVVN), a wholly owned subsidiary of NTPC Ltd. has acquired 5% equity stake in Power Exchange of India Ltd (PXIL). NVVN purchased these shares from NSE Investment Limited, a co-promoter shareholder of PXIL on January 31, 2022.
NVVN is one of the top power traders in India and the acquisition of an equity stake in PXIL is a strategic opportunity for NVVN to achieve and maintain a leadership position in the rapidly changing Power trading market, according to a PIB release.
NVVN was formed by NTPC Ltd., India’s largest power generator and a Maharatna Company, in the year 2002, as its wholly owned subsidiary to tap the potential of power trading in the country. NVVN holds a highest Category ‘I’ power trading license in terms of latest CERC regulations.
PXIL is India’s first institutionally promoted power exchange, promoted by NSE Investment Ltd. & NCDEX and has been providing innovative and credible solutions since 2008.