Rs 8,000Cr. IL&FS Renewable Energy Assets Are Up For Sale

In Clean News, News, Renewable Energy, Solar, Wind

Uday Kotak-led board has invited expressions of interest for renewable energy assets of the IL&FS group which is worth over Rs 8,000 crore.

Statkraft is among those that have shown interest in acquiring the assets. Other investors that are likely to bid include I Squared Capital, Actis, Macquarie and the Hinduja Group.

New York-headquartered I Squared Capital had raised $7 billion in August for investment in infrastructure. The investment firm is looking at renewable energy and highway projects in India.

Actis private equity is reported to have finalised a deal to buy solar power projects of Essel Group in a deal in excess of Rs 5,500 crore.

The assets for which expressions of interest (EoIs) have been sought from investors include operating wind power-generating plants with aggregate capacity of 874MW, as well as under-construction wind power-generating plants with aggregate capacity of 104MW.

There is also a separate business relating to project development and implementation of solar power-generating plants and projects under development of approximately 300MW capacity.

Additionally, the renewable energy division includes asset-management services for the operating wind power-generating plants as well as the business division conducting project development and implementation of wind power-generating plants.

The company said that the proposed stake sale may be carried out as a basket or individually or in any combination.







Reference- TOI, The Hindu

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