PTC India Financial Services to finance open market purchase of electricity

NEW DELHI: Power projects financier PTC India Financial Services ( PFS) will lend money to distribution companies and industries for purchasing power from energy exchanges.

"The Board of Directors of PFS approved a detailed scheme to meet the financing needs of the distribution companies, industrial units which are purchasing electricity from energy exchanges, namely, IEX and PXIL," an official statement said on Friday.

Presently 14,647 million units of electricity is being traded in day ahead market of IEX and PXIL involving about 1,350 participants, the statement said.