TCS in power exchange joint venture with NTPC, NHPC and PFC

Mumbai: Tata Consultancy Services, the country's largest software services company, has set up a joint venture with state-run NTPC, NHPC and Power Finance Corporation to operate a national level power exchange.

''A JV 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 filing with the Bombay Stock Exchange (BSE).

The joint venture JV company, to be registered as a public limited company with an authorised capital of Rs50 crore, would provide neutral and transparent electronic platform for power trading.

The exchange will offer access to all power sector entities and would strive to clear all  trades in an efficient manner, the release said.