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Global investors lining up for India’s power sector: Goyal

business Updated: Sep 10, 2014 23:16 IST
HT Correspondent
HT Correspondent
Hindustan Times
power sector

The domestic power sector is set to witness some big-ticket investments with companies and fund managers both in India and abroad showing keen interest in the sector.

“I am being approached by investors from all over the world… the Japanese and Australian have indicated their interest to come and invest in the energy sector…going forward I expect the same interest to come from the US as well,” power, coal and renewable energy minister, Piyush Goyal, told HT.

“Look at the deals (recent takeovers) that are happening … there is competition of sorts among leading companies. I am confident that we are heading towards a period where people will fight to invest in India’s energy sector,” he added.

Besides, projects undertaken by central PSUs offer investors huge opportunities. “Look at NTPC and its growth chart…it is perhaps the best PSU that can be showcased in the power sector,” the minister said.

The ministry is also likely to hold domestic and international road shows to attract investors. “There is a need to examine why the good profit-making central PSUs are valued less. In order to shore up valuations, a plan may be made for domestic as well as international roadshows,” the minutes of a meeting between Goyal and the heads of central power and coal PSUs said. HT is in possession of the document.

In fact, at a recent session with the minister, CPSU heads were asked to submit a plan for conducting road shows, a CMD of a leading power company told HT. “The proposal is being prepared by chairmen and MDs of all leading PSUs,” he said.