ReNew Power, NTPC Targets at Procuring PTC India's Wind Power Business

ReNew Power Ltd and NTPC Ltd have revealed interest in the enduring sale process of PTC India Ltd’s wind power business, alleged two people aware of the development.

“ReNew Power and NTPC have been involved in talks with the company for the last few weeks and the two are expected to soon submit binding bids for acquiring the assets. One or two other financial investors could also put a binding bid for the assets,".

The sale could draw a valuation of about ₹2,000 crore, he said. The investment banking arm of KPMG is managing the sale process, the person further.

The procedure had also seen interest from other buyers such as the local arm of CLP Holdings Ltd, Macquarie Infrastructure and Real Assets (MIRA) and Hero Future Energies, Mint reported on 11 January.

 “PTC India Ltd is considering various options for funding growth of its subsidiary PTC Energy Ltd (PEL), including getting a suitable strategic investor on board. KPMG is advising PTC in this matter," a PTC India spokesperson supposed.