ICICI Bank along with BSE and PTC India has filed a petition with the power market regulator, Central Electricity Regulatory Commission (CERC) on September 7, 2018 for grant of license for setting up a new power exchange.
This proposed institutional exchange, subject to necessary regulatory approvals, would leverage on the experience and expertise of its stakeholders in their fields; knowledge of the power sector, funding of power projects and associated infrastructure, setting-up and running various exchanges and platforms in India, and offer the market participants a credible power trading platform.
ICICI Bank is India’s largest private sector bank by consolidated assets. The bank’s consolidated total assets stood at $165 billion at December 31, 2017. ICICI Bank’s subsidiaries include India’s leading private sector insurance, asset management and securities brokerage companies, and among the country’s largest private equity firms. It is present across 17 countries, including India.
