Aggressive Bidding For IL&FS Renewable Energy Assets

The energy business of debt-laden Infrastructure Leasing and Financial Services (IL&FS) appears to be the favorite among the prospective investors in the IL&FS asset monetisation plan.

The renewable energy business looks to be most valuable unit for sale. They have received more than six bids in which from the likes of Tata Power, Torrent, JSW Energy, Greenko, Sterlite Power etc.

JSW Energy’s attempt looks most interesting. Though market has valued the company at about Rs 5,000 crore, seeing the motivation among bidders the company is expecting to sell it for Rs 8,000-8,500 crore after the bidding process closes, which is 60-65 per cent more than its current market value.

The asset monetisation plan is an attempt to reduce over Rs 94,000 crore debt burden of IL&FS.

Organisations in the race to acquire the renewable energy assets of IL&FS, include private players like ReNew Power Ventures and Macquarie Infrastructure & Real Assets, and profitable PSUs like NTPC, GAIL (India) and Solar Energy Corporation of India.

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