PTC India said its board on Thursday approved the acquisition of the energy consulting business of IL&FS Energy Development Company. However, it did not disclose the value of the deal.<\/p>\n
“PTC India Limited’s Board in its meeting held on 24th June, 2021 has approved a Letter of Intent (LoI) dated 17th June 2021, for acquisition of the Energy Consulting Business undertaking of IL&FS Energy Development Company, a Group Company of IL&FS, for an undisclosed value, on a Slump Sale basis,” it said in a BSE filing.<\/p>\n
The LoI was issued after following due process prescribed under the resolution framework approved by NCLT for IL&FS Group entities, it added.<\/p>\n
PTC India Ltd, a Government of India initiative, is the pioneer in starting a power market in the country. The company has maintained its leadership position in power trading since inception.<\/p>\n
PTC has also been mandated by the government to trade electricity with Bhutan, Nepal and Bangladesh.<\/p>\n
The trading activities undertaken by PTC include long-term trading of power generated from large power projects, including renewables, as well as short-term trading arising as a result of supply and demand mismatches, which inevitably occur in various regions of the country.<\/p>\n","protected":false},"excerpt":{"rendered":"
PTC India said its board on Thursday approved the acquisition of the energy consulting business of IL&FS Energy Development Company. However, it did not disclose the value of the deal. “PTC India Limited’s Board in its meeting held on 24th June, 2021 has approved a Letter of Intent (LoI) dated 17th June 2021, for acquisition of the Energy Consulting Business undertaking of IL&FS Energy Development Company, a Group Company of IL&FS, for an undisclosed value, on a Slump Sale basis,” it said in a BSE filing. The LoI was issued after following due process prescribed under the resolution framework approved […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-422548","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=422548"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/422548\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=422548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=422548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=422548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}