PTC May Exit Wind Energy Business

In Clean News, News, Renewable Energy, Wind

The country’s largest electricity trader, PTC India Ltd, is exploring the possibility of exiting its wind power business and is scouting for investors for this.

This comes against the backdrop of India’s renewable energy tariffs hitting a record low. The country’s wind power tariffs plummeted to ₹ 2.43 per kilowatt-hour (kWh) at an auction conducted by state-run Gujarat Urja Vikas Nigam Ltd last December.

India’s wind sector has transitioned from a feed-in tariff regime, which ensures a fixed price for wind power producers, to tariff-based competitive auctions. In such a scenario, obtaining finance at the lowest cost has become key.

PTC doesn’t want to put further money in the asset generation business. It is now looking for investors and is also ready to sell a majority stake and transfer full ownership.

 

 

Reference- Live Mint, Energy Infra-Post

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