NVVN acquires 5 per cent stake in PXIL

NTPC Vidyut Vyapar Nigam (NVVN), a wholly owned subsidiary of NTPC Limited, has acquired a 5 per cent stake in India’s Power Exchange (PXIL). In January 2022, NVVN purchased PXIL shares from National Stock Exchange of India Limited Investment, a co-promoter stakeholder of PXIL. According to the reports, the acquisition of an equity part in PXIL would provide NVVN with a strategic chance to establish and retain a strong position in the power trading market.

PXIL, promoted by NSE and National Commodity and Derivatives Exchange, has Power Finance Corporation, state utilities like Gujarat Urja Vikas Nigam Limited, Madhya Pradesh Power Management Company Limited, West Bengal State Electricity Distribution Company Limited and private sector energy companies like JSW Energy Limited, Tata Power Trading Company Limited, GMR Energy Limited.

In December 2021, NVVN requested bids from contractors for engineering, procurement, and construction services as well as land to develop grid-connected solar photovoltaic projects up to 100 MW in Maharashtra. The scope of work comprises design, engineering, manufacturing, supply, packaging, forwarding, transportation, unloading, storage, installation, and commissioning of grid-connected solar projects. After commissioning these projects, the winning bidder will be responsible for operation and maintenance for these solar projects for a period of three years.

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