NTPC owned NVVN acquires 5% equity stake in Power Exchange of India
New Delhi: NTPC Vidyut Vyapar Nigam Ltd (NVVN), a wholly-owned subsidiary of NTPC Limited, has acquired 5 percent equity stake in Power Exchange of India Limited (PXIL). According to a press release from the Ministry of Power, NVVN has purchased these shares from the holding NSE Investment Limited, a co-promoter shareholder of PXIL. NVVN has acquired 5 percent equity shares from NSE in 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.
NVVN was formed by NTPC Limited in the year 2002, as its wholly-owned subsidiary to tap the potential of power trading in the country. NVVN holds the highest category-'I' power trading license in terms of the 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.