India’s Shree Cement Wednesday said it has got the Central Electricity Regulatory Commission’s (CERC) approval to start inter-state trading business in power it produces at its merchant plant.
"We are very pleased with the development. Like in our existing businesses, we would like to provide our customers with the best products and services," Shree Cement Managing Director H M Bangur said in a release.
The company has 260 MW installed captive power generation capacity and is in the process of putting up additional 300 MW merchant capacity, which is set to go on stream in a few days.
Shree Cement has been selling its surplus power in recent times. The power trading unit would be an independent business activity through Shree Power Trading, its power business development arm, the release said.
Shree Power Trading will undertake trading activities on all-India basis to entities like utilities industries, direct open access customers and captive power plants, it said.
"It will offer a bouquet of products which include bilateral and exchange platforms for long, medium and short term contracts and also facilitating banking arrangements," the release said.