Tata Power selects SunGard’s ZaiNet

HOUSTON, USA: Tata Power Trading Company Limited (TPTCL), part of the Tata Group of companies, selected SunGard’s ZaiNet to help it streamline and automate its power trading operation.

Integrated with the new India Energy Exchange (IEX), SunGard’s ZaiNet would support TPTCL’s trading on the exchange as well as its bilateral trading with counterparties in India. 

ZaiNet would support TPTCL’s sustained growth by helping automate and consolidate its confirmation process, which TPTCL had identified as a limiting factor to its growth due to its reliance on multiple, disparate confirmation systems. ZaiNet would also help TPTCL gain better controls through audit and reporting capabilities.  

Amulya Charan, managing director of TPTCL, said: “TPTCL 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. We chose to support our growth with SunGard’s ZaiNet because of its global application in power markets, and flexibility to adapt to the rapidly evolving energy market in India,” he added.

Matt Mandalinci, president, energy solutions business unit, SunGard, said, “With over 2,000 SunGard staff in India, 125 of which are devoted exclusively to SunGard’s energy solutions business, we are excited to enter the power trading market in India with TPTCL. SunGard ZaiNet’s flexibility delivered through its configurable risk and calculation engine with an SOA, integration to the IEX, and front-middle-back office integration will help TPTCL to optimize its energy business and support its growth.”