TCS, state utilities to set up power exchange
Software services and consulting firm Tata Consultancy Services (TCS) will float a joint venture company along with the state-run National Thermal Power Corporation (NTPC), National Hydro Power Corporation (NHPC) and Power Finance Corporation (PFC) to operate a national level power exchange.
"An agreement has been signed amongst NTPC, NHPC, PFC and TCS for incorporation of a joint venture company to set up and operate a power exchange at national level," TCS said in a regulatory statement.
The joint venture would be registered as a public limited company with an authorised capital of Rs 50 crore for setting up an exchange to provide a neutral and transparent electronic platform for power trading, reports IANS.
The exchange will also ensure clearing of all trades in an efficient manner with access to all players in the power sector.
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