December 16, 2008 - Tata Power Trading Company Limited, part of the Tata Group of companies, selected SunGards ZaiNet to help it streamline and automate its power trading operation and support its plans for continued growth.
Tata Power Trading selected SunGard because of its global experience and ZaiNets ability to be configured to the unique requirements of the Indian energy market. Integrated with the new India Energy Exchange (IEX), SunGards ZaiNet will support Tata Power Tradings operations on the exchange as well as its bilateral trading with counterparties in India.
ZaiNet will support Tata Power Tradings sustained growth by helping to automate and consolidate its confirmation process, which Tata Power Trading has identified as a limiting factor to its growth due to its reliance on multiple, disparate confirmation systems. ZaiNet will also help Tata Power Trading gain better controls through audit and reporting capabilities.
Tata Power Trading has been at the forefront of power trading in India since its inception in 2004 and our business is experiencing a compounded growth rate of over 100 percent from 76 Million Units in 2005 to over 1700 Million Units in 2008. This growth of our trade volume necessitates that we fully automate our trading activities, said Amulya Charan, managing director of Tata Power Trading. We chose to support our growth with SunGards ZaiNet because of its global application in power markets, and flexibility to adapt to the rapidly evolving energy market in India.
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