Big Bytes

IL&FS to pull out of wind, solar power projects

The Infrastructure Leasing & Financial Services (IL&FS) group has initiated a process to sell its stake in the renewable energy business, reports telegraphindia.com. It owns wind power plants with a capacity of 873.5 mega watts (MW). Besides, it has units that are under construction with a proposed capacity of 104 MW. The IL&FS group also has under-construction solar power projects with capacity of 300 MW.

This latest move comes after the infrastructure financier had announced plans to divest its stake in IL&FS Securities Services and ISSL Settlement & Transaction Services. According to the group, it has received strong interest from over dozen entities for these two businesses. The interest comes from banks, private equity funds and other financial services firms.

It is planning to divest stake in businesses relating to project development and implementation of solar power plants and projects under development of around 300 MW capacity with corporate customers. It is looking at various resolution options that include significant capital infusion in its business either individually or in a combination, divestments, and debt restructurings at the group level. It may also cover an asset level resolution.

UP FOR SALE

Wind power plants with capacity of 873.5mw. Plants are operational
Another 104mw wind power plants that are under construction
IL&FS to also sell solar units with capacity of 300mw
IL&FS has Rs 92,000-crore debt

Leave a Reply

You may also like:

Agriculture Banking / Finance Economy Energy Infrastructure Lifestyle Politics World

Make sure banks don’t fund more coal

The science is abundantly clear that we need to keep fossil fuels in the ground to ensure a future for our planet, and that means we can’t let any new coal plants be built anywhere in the world. So the Vung Ang 2 coal-fired power station in Central Vietnam – currently planned for financing by Japan’s biggest banks – is a definite no-go.

Read More
Agriculture Corruption Economy Food / Beverages Lifestyle Politics

Powerful cronies & media allies invading democracy houses vs expendable farmers revolt – Kya Maal hai, कमाल ka viral धंदा

A land bill, farm pill or whatever, the public resources gathered by tax collectors from common citizens never reaches the needy, period. Most reform laws / ministerial daring are to somehow protect its neta-chaap winners in mid-way, smartly!

Read More
Health Lifestyle Media / PR People Technology

Coronavirus threat – safety first!

We believe this is a moment to use all of our creative people power to fight for a just, people-centered transition away from the systems behind these crises we face. This is not the moment to protest in the streets, nor the time to gather in-person in large groups for actions and mobilizations.

Read More