Power majors set up joint venture for power exchange | business | Hindustan Times
Today in New Delhi, India
May 26, 2017-Friday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Power majors set up joint venture for power exchange

Power companies NTPC, NHPC and Power Finance Corporation and Tata Consultancy Services signed a joint venture agreement for incorporation of a joint venture company.

business Updated: Sep 14, 2008 22:59 IST

Power companies NTPC, NHPC and Power Finance Corporation and Tata Consultancy Services signed a joint venture agreement (JVA) for incorporation of a joint venture company for setting up and operating a power exchange at the national level.

The exchange shall be registered as a public limited company with an authorised share capital of Rs. 50 crore. The exchange shall provide a neutral and transparent electronic platform for trading of power on day ahead basis and ensure clearing of all trades in a transparent, fair and open manner with access to all players in the power markets.

BHEL, HEC begins joint venture

Aimed at synergising the strengths of the two public sector engineering giants in the core sector, Bharat Heavy Electricals Limited (BHEL) and Heavy Engineering Corporation Limited (HEC) have signed a Memorandum of Understanding (MoU) to form a Joint Venture Company (JVC). The JV Company will cater to the requirements of castings and forgings of both BHEL as well as HEC on mutually beneficial terms.

The joint venture comes at a time when the nation is looking at adding huge power generation capacities of 78,000 MW and 85,000 MW in the 11th and 12th plans, respectively.

NTPC wins business award

NTPC has been conferred business superbrand 20008 award by the Superbrands Council of India. The award was presented by BJP leader LK Advani in New Delhi.

Selection of Superbrand is done through a two tier process comprising a consumer survey for shortlisting followed by evaluation by the superbrands council against set benchmarks such as market dominance, market acceptability, goodwill, customer loyalty and other marker factors.

Energy Synergy Dialogue

Power Secretary Anil Razdan has recommended the integration of rural and urban energy programme. Speaking at World Energy Council-Indian Member Committee’s Energy Synergy Dialogue in New Delhi he said that non conventional energy sources should not be limited to rural areas only but the lead for demonstration of usage of non-conventional energy sources should be taken up by cities.

NTPC chairman and managing director RS Sharma said over 2 billion people around the world don’t have access to modern cooking fuels and 1.7 billion people stay without electricity and India alone accounts for 40 per cent of this population.

Maintaining margins to generate resources a tough challenge with high input costs and price moderation, says Steel Authority of India Limited (SAIL) Chairman SK Roongta at the company’s 36th Annual General Meeting.

“The challenge of growth is well recognised and SAIL is decisively proceeding towards long-term sustained growth,” he told the company's shareholders attending the meet.