PTC India (NSE:PTC, BOM:532524) has completed the sale of its wholly owned subsidiary PTC Energy to ONGC Green, a wholly owned subsidiary of Oil and Natural Gas Corporation (NSE:ONGC, BOM:500312) for 9.25 billion Indian rupees, according to a Tuesday filing to the Indian stock exchanges.
PTC Energy has an aggregate operational wind generation capacity of 288.80 MW across seven locations in Andhra Pradesh, Madhya Pradesh, and Karnataka in India. It operates 157 wind turbine generators (WTGs) across all its wind farms.
The acquisition will help ONGC Green to scale up its investments in the renewable energy sector.
PTC India shares were up over 2% in recent trade.
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