NCDEX in JV with NTPC, NHPC to launch power exchange

Commodity bourse National Commodity and Derivatives Exchange Ltd (NCDEX) is setting up a power exchange in joint venture with leading power players like NTPC and NHPC at an estimated cost of Rs 15-20-crore.

Other partners for the exchange include Power Grid Corporation of India Ltd and Power Finance Corporation.

NCDEX has applied for necessary clearances from the Central Electricity Regulatory Commission (CERC) and is hopeful of getting the same by September, he said.

The regulator was finalising the norms for setting up the exchanges, after which a formal approval for the power exchanges may be given. Power exchanges have been proposed by the government to develop a transparent market for power trading.

The CERC had in February issued guidelines for grant of permission to operators wanting to set up and operate a power exchange in the country. It proposed multiple power exchanges in the country.

(Source: Economic Times)

NTPC to take 44.6% in Kerala firm

NTPC, the country’s largest power generator, has taken its first step in the manufacturing business through an acquisition. The company will be buying 44.6 per cent stake in Transformers and Electricals Kerala (TELK), a Kerala government company, which manufactures and repairs transformers.

The state government and its undertakings currently hold 95.6 per cent equity of TELK.

TELK has over 40 years of experience in “manufacture, marketing and servicing of power transformers, current voltage transformers, circuit breakers, isolated phase bus ducts, shunt reactors etc and the deal will help make the company an integrated power major,” said a release from the company.

(Source: Business Standard)