NTPC plans to buy 5% equity in Power Exchange of India Ltd (PXIL)
- State-owned power generation company NTPC Ltd. is set to acquire 5 percent equity stake in Power Exchange of India Ltd (PXIL).
- It must be noted that government is planning to expand the share of the spot power market in total electricity supply in India to 25 percent by 2023-24. At present the size of short-term power trading is about 5 percent.
- About PXIL: It was incorporated on February 20, 2008 as India’s first institutionally promoted power exchange.
- PXIL provides various electricity trading solutions and helps in connecting buyers with sellers.
- The authorised share capital of the PXIL is Rs 120 crore and paid-up capital is Rs 58.47 crore.
Source: Economic Times
Points to Remember:
- What percent of stake will be acquired by NTPC in PXIL?
- What is the authorised and paid-up capital of PXIL?
- PXIL was incorporated in which year?