Power Finance Corporation (PFC) of India announced the formation of a subsidiary to focus on renewable energy projects and their funding in November last year.
PTC India Financial Services listed on the Indian stock markets in April this year. Earlier, PFS was in talks to tie up with two foreign PE players and launch a $100 million fund.
According to reports, leading power trading solutions provider, PTC India, is mulling floating 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 (PFS) is promoted by PTC India (PTC) 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.