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.
The bad news for lenders is that the sale process will take several months and is unlikely to be completed during the current fiscal. This means that banks will have to make provisions on their exposure to the group in their FY19 results. Read More
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