Question: Consider the following statements :-
- Power Exchange of India Limited was formed in 2008.
- National Thermal Power Corporation plans to acquire 5 percent stake in Power Exchange Limited.
Which of the above statement(s) is/are correct?
(a) only (1)
(b) only (2)
(c) (1) and (2)
(d) neither (1) nor (2)
Answer—(c)
Related facts—
- State-owned power company National Thermal Power Corporation plans to acquire 5 per cent equity stake in Power Exchange of India Ltd.
- Background —
- This decision has been taken in view of the government’s intention to increase the share market to 25 per cent per cent of total electricity supply in India by 2023-24.
- PXIL —
- It is notable that PXIL is India’s first institutionally promoted power exchange, which has been providing various electricity trading solutions and connecting buyers as well sellers since 2008.
- The authorised share capital of the PXIL is Rs 120 crore and paid-up capital is Rs 58.47 crore.
- It was incorporated on February 20, 2008.
By – Pankaj Pandey