CERC issues power trading license to Parshavnath Power

Electricity regulator CERC has granted an inter-state power trading license to Parshavnath Power Projects Private Ltd.

"Parshavnath Power Projects meets the net worth requirements specified by CERC for grant of licence and has fulfilled other conditions," the Central Electricity Regulatory Commission said in an order.

The balance sheet submitted by the company on September 30, 2013, showed its net worth was Rs 2.66 crore.

"Any entity applying for the trading license should have net worth of Rs 1 crore," CERC said in its order.

Parshavnath Power Projects stated in an affidavit that it will not apply for a power transmission license without surrendering the trading license.

Parshavnath Power Projects is a wholly owned subsidiary of Parshavnath Power, which has a presence in power generation (thermal, hydro, solar and wind), transmission and distribution.

Meanwhile, the CERC withdrew permission to the National Power Exchange to start power trading business. This folows the company's decision to wind up and not renew the license for setting up a power exchange.

National Power Exchange is jointly promoted by NTPC, PFC and NHPC and private sector Tata Consultancy Services.

At present, there are two power bourses in the country, Indian Energy Exchange and Power Exchange India.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • India’s festivals teach us to share our wealth and joy

    India is an aporia in its own true sense.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Sustainable model for rural sanitation

Prime minister Narendra Modi has promised to build a toilet ...

Zehra Naqvi

How smells evoke strong memories

Remember that time when a passing fragrance transported you to ...

Dharmendra Khandal

Indian zoos need a fresh approach

Recently, when a man jumped in a tiger trench of ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture