SJVN Wins 288 MW Of PTC Wind Assets With ₹2000 Cr Bid

SJVN, a  joint venture of the Government of India (GOI) and the Government of Himachal Pradesh , has won the auction for 288 MW of wind power assets spread across Madhya Pradesh, Karnataka, and Andhra Pradesh, owned by Power Trading Corporation India (PTC Limited). PTC India has been on a mission to exit its wind energy assets, owned by subsidiary PTC energy limited,  and focus on the power trading instead.

SJVN has confirmed receiving a letter of intent for the deal at an enterprise value of around ₹2,000 crores.

Presently, the total power portfolio of SJVN is 8786 MW, out of which 2016.51 MW is under operation, 3090 MW is under Construction, 686 MW is under Pre-construction and 2993 MW is under Survey and Investigation stage. The firm has branched out in recent years outside its core hydroelectric portfolio to move into both solar, and now wind energy assets.

Earlier in January 2021, SJVN had taken out a tender for leasing contiguous landholdings of 1250 acres in Bihar  to be considered for a solar power project. Typically, a landholding of that size will house close to 250 MW of solar projects. In that tender, the area of total land offered for purchase or lease in the state of Bihar shall not be less than 250 Acres as a single connected patch. A maximum of 05 Land Patches at different locations cumulating to a maximum of 1250 acres may be offered.

The sale to SJVN strengthens a recent trend of PSU power firms becoming more prominent in the renewable energy space, a they seek to diversify from thermal and Hydro profiles of their portfolios.