Power trading solutions provider, PTC India Ltd will soon float an energy fund to finance power projects in the country.

Tantra Narayan Thakur, Chairman and Managing Director of the company said, “We have an in-principle decision to float an energy fund under the PTC’s investment arm PTC Financial Services. We are in talks with the banks and financial institutions to tie up debt for the fund.”

However Mr. Thakur declined to reveal details like the corpus of the fund and the date of commencement.
PTC India floated an investment arm called PTC Financial Services Ltd about six months back to invest in power projects.

Australia-based, Macquarie group and US-based Goldman Sachs have 20% equity stake each in the company.

Recently, the company has forayed into wind energy generation business by successfully commissioning its 6 MW wind farm project in Maharashtra.

The company has reported 28% decrease in net profit at Rs 6.21 crore for the quarter ended December 2007. Its sales increased by 9% to Rs 733.79 crore.