The India business unit of Infosys will be developing the software fabric for the power trading futures index of public sector firm Power Trading Corporation (PTC) as the IT major looks to strengthen its ties with the energy sector in the country.
Talking to FE, CN Raghupathi – head, India business unit, Infosys, said, “We will be creating a software that will enable PTC to provide clarity in energy trading, like any stock market index.”
PTC, established in 1999, began trading in electricity in 2000-01, providing a host of services, such as intermediation for long-term supply of power, equity and debt support to projects and fuel intermediation. Raghupathi said the company would be computerising the entire data related to power trading, but added it would take a while before they would be able to come out with the index.
The India business unit of Infosys has significant exposure to the energy sector and is engaged with firms in all the three segments — generation, transmission and distribution.