Financial Daily from THE HINDU group of publications
Tuesday, Jan 11, 2005
Financial Daily from THE HINDU group of publications Tuesday, Jan 11, 2005 |
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Power Corporate - Alliances & Joint Ventures NTPC plans power exchange — In talks with PowerGrid, PTC Anil Sasi
New Delhi , Jan. 10 THE PSU brigade in the power sector is joining forces to take on the competition. The Rs 26,000-crore National Thermal Power Corporation (NTPC) is in talks with Powergrid Corporation Ltd (PGCIL) and Power Trading Corporation (PTC) to jointly work on developing a nationwide power exchange. This comes close on the heels of the alliance formed by NTPC, Bharat Heavy Electricals Ltd (BHEL) and Power Finance Corporation (PFC) to bid for power projects overseas. "We are talking to both PGCIL and PTC for working together on the power exchange. The idea is to ensure there is no duplication of efforts in setting up an exchange, and the three companies can leverage their respective expertise to jointly develop an IT-enabled power trading platform," an NTPC official said. NTPC has already commissioned a study by Nord Pool — the world's oldest and one of the most successful power pooling mechanisms — for its proposed power exchange. The exchange mechanism being envisaged would be in the nature of a spot market for power, which would provide a platform for buyers and sellers of electricity to strike trading deals on a real-time basis. NTPC and BHEL had earlier formed a 50:50 joint venture to bid for overseas power projects. The joint venture was conceived with the aim that NTPC would bring to the table its expertise in setting up and operating power plants, while BHEL would complement this role as an equipment supplier for the power projects. The venture had been eyeing the Oman Government's $1-billion Sohar Water and Gas project, but later decided to drop out of the bidding process. Subsequently, PFC also decided to join hands with the NTPC-BHEL combine and the company would take on the financing role for the power projects. The combine has sent a proposal to the Sri Lankan Government for setting up a 300-MW project near Colombo. The proposal envisages the setting up of the Rs 1,500-crore coal-based power plant on a build-own-operate (BOO) basis.
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