15-plus Applicants Have Submitted ‘Expressions Of Interest’ For IL&FS Renewable Energy Assets

Tata Power, Torrent, JSW Energy, Greenko, Sterlite Power and Statcraft are among the 15-plus applicants who have submitted their expressions of interest (EoIs) for IL&FS group’s renewable energy assets worth Rs 8,000 crore — the second largest vertical after roads.

Bidders for the business, which has wind and solar power assets, include public sector entities and private equity funds as well. The bidders are expected to commence a due diligence process, which includes physical inspection.

They will also review the power generation capacity, the power purchase agreements with governments, the tenure and longevity of the projects and the outstanding debt.

Lenders to IL&FS had sought a special dispensation from the Reserve Bank of India (RBI), seeking a waiver from making any provisions on their exposure to IL&FS. The representation was made on the grounds that the troubled infrastructure finance company was barred from making any payments by a court-imposed moratorium.

The RBI has, however, not acceded to their request till date.

Reference- Times of India