IL&FS to pull out of wind, solar power projects

The Infrastructure Leasing & Financial Services (IL&FS) group has initiated a process to sell its stake in the renewable energy business, reports telegraphindia.com. It owns wind power plants with a capacity of 873.5 mega watts (MW). Besides, it has units that are under construction with a proposed capacity of 104 MW. The IL&FS group also has under-construction solar power projects with capacity of 300 MW.

This latest move comes after the infrastructure financier had announced plans to divest its stake in IL&FS Securities Services and ISSL Settlement & Transaction Services. According to the group, it has received strong interest from over dozen entities for these two businesses. The interest comes from banks, private equity funds and other financial services firms.

It is planning to divest stake in businesses relating to project development and implementation of solar power plants and projects under development of around 300 MW capacity with corporate customers. It is looking at various resolution options that include significant capital infusion in its business either individually or in a combination, divestments, and debt restructurings at the group level. It may also cover an asset level resolution.

UP FOR SALE

Wind power plants with capacity of 873.5mw. Plants are operational
Another 104mw wind power plants that are under construction
IL&FS to also sell solar units with capacity of 300mw
IL&FS has Rs 92,000-crore debt

Leave a Reply

Your email address will not be published. Required fields are marked *

PS PHPCaptcha WP

You may also like:

Art Corruption Law / Legal Lifestyle People Politics Startup

How to Create Armies of MLM Cheats using NLP Training in every industry!

Blockchain of MLM humanoids are manufactured for absorption into every industry possible – especially finance, real estate, interstellar travel, governance, hi-tech prostitution, media, TV / Mobile, pharma / drug mafia, religion, retailing and many others..

Read More
Infrastructure Linux Software Startup Technology World

Quantum Computing & Future of Cloud Encryption – Upscale Cyber Humanoids!

Conventional computing is based on a bit that can be either a 1 or a 0, representing a single value in a computation. But quantum computing is based on qubits, which simultaneously represent both zero and one values.

Read More
Banking / Finance Retail Software Startup Technology

Secure Payment Gateways and Ecommerce Transactions

This set of security protocols is known is PCI DSS, which stands for Payment Card Industry Data Security and Standard. It ensures to protect the customer data from any online frauds.

Read More