CERC approves third power exchange in India

The Central Electricity Regulatory Commission (CERC) has given approval to the petition filed by Pranurja Solutions Ltd, to establish a third power exchange in India. There are currently two power exchanges in the country – Indian Energy Exchange (IEX) and Power Exchange India Limited (PXIL). Pranurja Solutions is a company promoted by BSE, PTC Ltd and ICICI Bank. Currently, PTC owns a 49 per cent stake in Pranurja Solutions, while BSE owns a 41 per cent share and ICICI Bank holds a 9.9 per cent share. To set up the power exchange, the shareholders will have to dilute their stakes to own at most 25 per cent each, within eight weeks of the order issuance. The order was issued on July 31, 2020. The additional prospective promoters will be Greenko Energies, Kirti Telnet, Jindal Power, Chamaria, Tollman International, Varanium Capital, Lord Dholakia and Meenakshi Power.

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