- Both energy companies are expected to soon submit their binding bids for the acquisition of PTC’s wind power assets.
- The proposed sale, being handled by KPMG’s investment banking unit, is expected to fetch an estimated INR 2,000 crore valuation.
NTPC Limited (NTPC), a New Delhi-based electric power distribution firm, and Haryana-based renewable energy company, ReNew Power Limited (ReNew), have reportedly shown serious interest in the ongoing sale of wind power business belonging to state-owned PTC India Limited (PTC).
Sources privy to the matter claim, both energy companies are expected to soon submit their binding bids for the acquisition of PTC’s wind power assets. The proposed sale, being handled by KPMG’s investment banking unit, is expected to fetch an estimated INR 2,000 crore valuation.
According to reports, apart from NTPC & ReNew, the proposed sale has also drawn interest from other prospective buyers like Hero Future Energies, Macquarie Infrastructure & Real Assets (MIRA) and CLP Holdings’ local arm.
A reliable source claimed, both energy companies have been conducting discussions with PTC over the last couple of weeks and soon intend to make their final bids with the intention of acquiring the assets. Moreover, a number of other financial investors, who were not named, are also expected to put in their binding bids for the wind power assets.
A spokesperson from PTC India stated that the company is considering several options for funding the growth of PTC Energy Ltd (PEL), its subsidiary, including bring an appropriate strategic investor onboard. The spokesperson further added that KPMG is helping the company by advising it on the matter.
For the record, the state-owned company’s subsidiary, PTC Energy Limited, owns approximately 290 MW of wind power assets scattered across Karnataka, Madhya Pradesh and Andhra Pradesh.
According to reports, both the companies have not disclosed the amount they would be bidding to acquire the assets on sale.