PTC India aims to infuse Rs 600 crore as equity into PTC Energy with an eye to generating 300 MW of renewable power by March under the wholly-owned subsidiary, a senior company official with the power trading company told Moneycontrol.
We will capitalise it to set up another 250 MW capacity. Our objective is to make it a 300 MW generation company by March next year, the official said. Most of the 300-MW capacity will be wind-based with a miniscule part coming from solar.
Andhra Pradesh will get much of the 250 MW new capacity with a small installation in Karnataka. Before the decision to invest Rs 600 crore, PTC India had invested Rs 140.69 crore in the arm. PTC India invested Rs. 85.69 crore in the power generation arm alone in 2015-16.
PTC Energy has commissioned 30 MW wind power project at Ratlam and 20 MW wind power project at Mandsaur, both in Madhya Pradesh.
There is a plan to list the subsidiary but that will take some years as the company will need to have a sufficient renewable power generation capacity under its belt, the official said, adding the arm will also raise debt as and when there is a need to.
PTC Energy is one of only two subsidiaries of PTC India, the other -- PTC India Financial Services -- is being listed on the exchanges.