Indian DLF gets shareholders' consent to dispose of wind power business
Jul 23, 2012 - Indian real estate developer DLF Ltd (BOM:5332868) said Friday that 99.98% of the shareholders approved a proposed sale of its wind power business.
The board of directors decided to sell the wind assets in a meeting on May 30 in a bid to strengthen the company's main business.
When announcing the proposed sale, DLF specified the assets in question included a 150-MW wind farm in the state of Gujarat and a 11.2-MW farm in the state of Karnataka. The company has arranged power purchase agreements (PPAs) for the wind farms with utilities Gujarat Urja Vikas Nigam Ltd and Hubli Electricity Supply Company Ltd.