State-owned power generation company NTPC Ltd. is set to acquire a 5 per cent equity stake in Power Exchange of India Ltd (PXIL). It must be noted that the government is planning to expand the share of the spot power market in the total electricity supply in India to 25 per cent by 2023-24. At present, the size of short-term power trading is about 5 per cent.
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About Power Exchange of India Ltd:
- It was incorporated on February 20, 2008, as India’s first institutionally promoted power exchange.
- PXIL provides various electricity trading solutions and helps in connecting buyers with sellers.
- The authorised share capital of the PXIL is Rs 120 crore and the paid-up capital is Rs 58.47 crore.