Japan’s Orix Corp., which owns a 49% stake in each of the seven operating wind power plants of debt-laden IL&FS group, has expressed its intent to buy out the remaining 51% stake held by IL&FS Wind Energy Ltd (Iwel).
Orix will exercise its right under the terms of an existing pact with IL&FS (Infrastructure Leasing & Financial Services Ltd) wherein Orix can match the price offered by the highest bidder to buy Iwel’s stake in the wind power plants, IL&FS said in a release.
In April, state-run gas utility GAIL (India) Ltd had offered to pay ₹4,800 crore (as enterprise valuation) for the 874-megawatt Read more
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