NVVN Acquires 5% Stake In PXIL

Mumbai, Jan 31: State-owned power generator NTPC on Monday said its subsidiary has acquired a five per cent stake in Power Exchange of India.

“NTPC Vidyut Vyapar Nigam, a wholly owned subsidiary of NTPC, has acquired a five per cent equity stake in PXIL,” the company said in a statement issued here. NVVN has purchased these shares from the holding company NSE Investment, a co-promoter shareholder of PXIL, it added. “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,” it said.

NVVN was formed by NTPC in 2002, as its wholly owned subsidiary to tap the potential of power trading in the country. PXIL is India’s first institutionally promoted power exchange, promoted by NSE Investment and NCDEX and has been providing innovative and credible solutions since 2008.