The Indian arm of CLP Holdings Ltd., along with MIRA, Hero and several others, is currently endeavoring to acquire PTC India’s 290MW wind power assets.
MIRA (Macquarie Infrastructure & Real Assets), Hero Future Energies, and the Indian branch of CLP (Chinese Light & Power) Holdings Ltd., are among the top companies that are currently racing against each other to acquire the wind power business of PTC India Ltd., a leading power trading solutions provider. Reportedly, the assets are evaluated at approximately INR 2,000 crore.
Sources with knowledge of the matter state that the sale of 290 MW of PTC Energy’s wind power assets across Karnataka, Andhra Pradesh, and Madhya Pradesh will be managed by KPMG, a professional services company based in the Netherlands.
According to a PTC India spokesperson, KPMG is playing an advisor to the company in finding a suitable strategic investor for participating in PTC Energy Ltd’s (subsidiary of PTC India) business.
Apparently, CLP India Pvt. Ltd., gained interest in acquiring PTC’s wind power business in the wake of CDPQ’s (the second largest pension fund of Canada) 40% stake purchase in PTC for $370 million. The company has a major wind power portfolio with an installed capacity of about 2,000 MW from solar, coal, and gas projects.
Meanwhile, MIRA intends to acquire the crisis-hit IL&FS’s (Infrastructure Leasing & Financial Services) renewable energy business. Meanwhile, Hero, one of India’s top clean energy producers, also looks to expand operations across India and Africa, with an operational portfolio of around 1,200 MW.
If industry experts are to be believed, the renewable energy space of India is currently witnessing consolidation, amidst the capital-intensive nature of the business and the decreasing tariffs. It has also been reported that the wind power tariffs had crashed down to INR 2.43 per kWh (kilowatt-hour) at an auction which was conducted by the state-run GUVNL (Gujarat Urja Vikas Nigam Ltd.) in 2017.
