RM Malla, managing director and chief executive officer, PTC India says the company can produce one lakh and 50 thousand megawatts (MW) of energy in 10 years only from solar energy.
RM Malla, managing director and chief executive officer, PTC India says renewable energy has a lot of potential in India as we receive atleast 330 days of sunlight.
Speaking to CNBC-TV18, Malla says solar power poses a big business opportunity for the company to the tune of Rs 7 lakh crore and adds that they can produce 1,50,000 megawatts (MW) of energy in 10 years only from solar energy.
"Hence we have signed a memorandum of understanding (MoU) with Power Finance Corporation (PFC) to focus on solar power," he adds.
Below is the transcript of RM Malla's interview with Anuj Singhal and Ekta Batra on CNBC-TV.
Ekta: There was some news recently with regards to PTC India Financial Services which has signed an agreement with PFC Green Energy for joint financing of renewable energy projects. Can you just tell us how much of an opportunity that segment is for you?
A: As you indicated our organisation PTC India Financial Services (PFS) is for last 1.5 year or so put its focus on renewable. We believe that renewable in India has a great potential. Just to put things in perspective, I believe in India which probably is one of the very few countries which is sunshine for almost 330 days in a year has a potential of making almost 1,50,000 megawatt through solar energy in maybe a period 10 years.
Similarly as far as wind is concerned I believe that we can have as much as 1,00,000 megawatt. Today wind energy India produces only about 25000 megawatt and as far as solar is concerned it is less than 3000 megawatt. So, we can go 50 times.
To put it in the financial terms if 1,50,000 megawatt of solar, the project cost have gone down is now about Rs 8 crore. So, this is a business of Rs 10 lakh crore and if we take a debt equity ratio of 70:30, 7 lakh crore of potential business is available only in solar. As I was saying that we have focused in this area and in order to broaden and ensure that we are able to quickly appraise and finance these projects, we have decided to have memorandum of understanding (MoU) with similar organisation.
PFC which is the largest power financing in this country has setup a special subsidiary only for renewal energy. So, couple of days back we have entered into an MoU and soon we will be also entering similar MoUs with other organisations. The system will be that we will appraise the projects and similarly if they get some proposal they will appraise the project and we will meet periodically and we will jointly finance.
PTC India Fin stock price
On September 12, 2014, at 14:05 hrs PTC India Financial Services was quoting at Rs 45.60, up Rs 0.30, or 0.66 percent. The 52-week high of the share was Rs 45.90 and the 52-week low was Rs 10.16.
The company's trailing 12-month (TTM) EPS was at Rs 4.19 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 10.88. The latest book value of the company is Rs 24.00 per share. At current value, the price-to-book value of the company is 1.90.
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