India's IL&FS puts up for sale 873-MW wind portfolio, other renewable assets

Wind turbines in India. Featured Image: OlegD/Shutterstock.com

November 29 (Renewables Now) - India's Infrastructure Leasing & Financial Services Ltd (IL&FS) said on Wednesday that it has launched a process to gauge the interest of third parties in the company’s renewable energy businesses.

IL&FS is looking to sell controlling stakes in an 873.5-MW operating wind park portfolio and 104 MW of under-construction wind farms as well as businesses that offer asset management and project development services. Also, it seeks to sell stakes in the business engaged in the development of solar projects, including 300 MW of photovoltaic (PV) schemes.

The debt-laden company said in a statement that its board had decided to to publicly solicit expressions of interest in the above-mentioned assets. It has hired Arpwood Capital Pvt Ltd and JM Financial Ltd as financial and transaction advisors, while Alvarez & Marsal will act as resolution consultants.

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