The $10-billion glass-to-financial services major Piramal Enterprises is in talks with PTC India to acquire its subsidiary PTC Energy’s 290 mw wind assets as part of their strategy to expand investments in renewable sector – wind and solar – people close to the development told FE.
Piramal Group is planning to acquire the entire wind portfolio of PTC India across Madhya Pradesh, Karnataka and Andhra Pradesh, which is likely to cost the company around Rs 2,200 crore, the sources said. PTC India recently mandated KPMG to advise on various fund-raising options where it may sell a major stake in the wind power business to a strategic investor or look at complete sale of assets.
