India’s largest infrastructure lender is selling its renewable energy assets to avoid defaulting on its debts


India’s largest infrastructure lender is selling its renewable energy assets to avoid defaulting on its debts

The cash-strapped IL&FS, India’s largest infrastructure lender, announced on 28 November that it had initiated the process of seeking bids for its renewable energy asset portfolio.

The renewable energy assets up for sale include a number of operational and soon-to-be operational wind power plants across India with a total capacity of nearly 1,000 MW, the asset management and project development businesses for these wind power plants, and the project management business for solar power plants with a capacity of 300 MW.

While the net worth of these assets wasn’t specified, media reports said earlier this month that GAIL India, a government-owned gas utility firm, would consider buying the wind energy assets at a considerable discount. Read More

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