Considering the change in market conditions NHPC (formerly National Hydro Electric Power Corporation) has proposed to exit from the National Power exchange (NPX). aNHPC’s move comes on the heels of another promoter, NTPC, deciding to exit from the NPX.
Now it is up to other promoters such as Power Finance Corporation (PFC) and Tata Consultancy Services (TCS) to decide the fate of NPX, India’s third power exchange.
NTPC, NHPC and PFC hold 16.67 per cent each. The remaining 50 per cent by TCS, BSE, IFCI, Meenakshi Power and DPSC. These promoters had entered into a joint venture agreement on September 3, 2008 and the NPX was incorporated on December 11, 2008.
This month, NHPC wrote to other promoters that NPX was incorporated in December 2008. As per the joint venture agreement and consequent to NTPC’s request to exit, the board of directors of NHPC decided to exit from NPX, as its objective to participate in the exchange was not achieved.
MG Raoot, Managing Director and CEO of NPX, said that so far, NTPC and NHPC have requested to exit from the exchange. The decision now rests with PFC and TCS. There are three options - PFC and TCS can rope in new investors, explore NPX merger with other power exchange, or opt closure of the exchange.
Raoot, who has been following the issue with all promoters, told Business Standard that NPX has approached the Central Electricity Regulatory Commission with a plea to grant six months’ time for taking a final position in the matter.
I wish to start pvc / pp electric wire unit in Delhi. What kind of information I can get if I subscribe for your magazine
Pls invite me all auction in gujarat
we are doing business developing for solar power ,thermal power , customer supporting and we have 45 mw splar power on hand needs investors.....
pls call +910842559230