(E.W)
State-run power giant NTPC is mulling acquiring 5 per cent equity stake in Power Exchange of India Ltd (PXIL) that provides various electricity trading options, a senior official said.
PXIL is India’s first institutionally promoted power exchange, which has been providing various electricity trading solutions and connecting buyers as well sellers since 2008.
A senior official told PTI that NTPC has plans “to buy up to five per cent equity stake in PXIL. This decision has been taken in view of the government’s intention to increase the share market to 25 per cent per cent of total electricity supply in India by 2023-24”.
Asked whether NTPC would acquire more equity than 5 per cent in PXIL, the official explained that the NTPC cannot buy more than 5 per cent equity stake in the PXIL as it could also be a seller or buyer on the trading platform.
