PTC India to set up PE vehicle with sovereign wealth fund
PTC India has agreed to set up a private equity fund with an unnamed sovereign wealth fund, according to the chairman of the state-run power trading company. It will have initial capital of $200 million and target stakes in power projects in India and in coal mines overseas.
"Such a private equity company will boost our core power trading business," Tantra Narayan Thakur said. He added that it is yet to be finalized if PTC India will go it alone as a partner in the joint venture...
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