SJVN wins bid to buy PTC’s wind assets for ₹2,000 cr

State-run hydropower generator SJVN Ltd has outbid NTPC Ltd to emerge as the preferred bidder for PTC India Ltd’s 288-megawatts (MW) wind power assets spread across Madhya Pradesh, Karnataka, and Andhra Pradesh, two people aware of the development said.

SJVN Ltd has received the letter of intent (LoI) for the deal that has an enterprise value of around ₹2,000 crore. This is part of the country’s largest electricity trader PTC India’s strategy to exit its wind power business, owned by unit, PTC Energy Ltd.

SBI Capital Markets Ltd is advisor to PTC India while EY is advisor to SJVN.