Home >Industry >Energy >NTPC and SJVN in fray to buy PTC’s wind power assets

NEW DELHI : State-run NTPC Ltd and SJVN Ltd have placed bids to buy out PTC India Ltd’s 289MW wind power assets spread across Madhya Pradesh, Karnataka, and Andhra Pradesh, said two people aware of the development.

With a potential enterprise value of around 2,000 crore, the sale is part of the country’s largest electricity trader PTC India Ltd’s plans to exit its wind power business.

These seven assets are owned by PTC India’s subsidiary PTC Energy Ltd.

This deal comes against the backdrop of India’s electricity demand registering an all-time high of 187.3GW on Friday morning. KPMG was previously hired to manage the sale, which initially saw interest from Macquarie Infrastructure and Real Assets, CLP India Pvt. Ltd, and Hero Future Energies. However, the deal could not be finalized. PTC India has now decided to sell the assets to a government-owned firm, with SBI Capital Markets Ltd advising it on the sale. “At present, the divestment process of PTC Energy Limited is on. At this juncture, therefore, the company would not like to comment on any market speculation," a PTC India spokesperson said in an emailed response.

Electricity firms such as NTPC and SJVN have pivoted toward green energy against the backdrop of a rapidly evolving Indian energy landscape. NTPC plans to acquire at least 1GW each of operational solar and wind projects as part of its strategy to have a 32GW clean energy portfolio by 2032. SJVN, a joint venture between the Union government and the Himachal Pradesh state government also has ambitious clean energy plans.

Queries emailed to the spokespersons of NTPC and SJVN late on Wednesday night remained unanswered.

A KPMG spokesperson said “As a policy, we cannot comment on any company specific matters." An SBI Capital Markets spokesperson also did not comment.

Mint had earlier reported about PTC India exploring the possibility of exiting its wind power business and scouting for investors.

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