PTC India is mulling to float two private equity funds as part of efforts to strengthen its financing capabilities.
“We are planning to have private equity funds... one for general purposes and another focused on renewable energy sector. Plans are at an initial stage,” a top official in the know of plans told PTI.
According to the official, the private equity fund focused on renewable energy would be floated by PTC India Financial Services while the other one would be done by PTC India.
PTC India Financial Services is promoted by PTC India as a special purpose investment vehicle.
“We are planning joint ventures (for private equity funds) and are looking for foreign or domestic partners,” the official noted.
PTC India, which is mainly into power trading, raked in a profit after tax of Rs 139.20 crore last fiscal.
The entity’s trading volumes jumped 34 per cent to 24,481 million units in 2010-11 compared with 18,236 million units in the previous fiscal.
In May 2010, PTC India had launched an infrastructure fund in a joint venture with emerging markets asset manager Ashmore. The fund was to provide equity financing to power projects.
At the end of last fiscal, PTC India had inked power purchase agreements for a capacity of 15,220 MW, including cross border trade.