DLF to sell Gujarat wind business for Rs 282 crore

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Express news service :Ahmedabad, Feb 01 2013, 01:07 IST

Real-estate giant DLF has sold a part of its wind power assets located in Gujarat to Bharat Light & Power for Rs 282.30 crore as part of the company’s strategy to exit from non-core businesses.

The company has entered into an agreement with BLP Vayu (Project 1) Pvt Ltd, a subsidiary of Bharat Light & Power Ltd, for transferring of its undertaking comprising of 150 MW capacity wind turbines situated at Kutch, Gujarat, stated the company in its filing to the BSE on Thursday.

“The transaction is in line with the DLF’s objective of divesting its non core assets,” the company added. DLF along with its wholly owned subsidary DLF Home Developers Ltd has 227 MW capacity wind turbines in four states engaged in generation of electricty and sale.

The shareholders of the company had approved the sale of the company’s wind power assets in Gujarat in July 2012.

Besides Gujarat, the company has wind turbine projects in Tamil Nadu, Karnataka and Rajasthan.

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K P Singh's DLF Ltd in stake sale of wind power business to Bharat Light Realty giants in web of firms linked to Maya’s brotherDLF sells part of wind energy biz for Rs.282 cr First step

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