K P Singh's DLF Ltd in stake sale of wind power business to Bharat Light
Asked about the remaining turbines in other three states, the company spokesperson said: "We are in the advanced stages of negotiations and a deal will be announced soon."
Sources said the company has tied up with Bharat Light & Power to sell its wind power plants in all the four states, with a combined installed capacity of 227 MW, for a total receivable amount of over Rs 800 crore and an announcement to this effect will be made by next month.
"The company has almost finalised the deal for rest of the three states with Bharat Light & Power. The entire process is under the necessary regulatory approvals and will be announced by the end of next month," a source said.
This is the third major deal by the country's largest realty firm in last six months. With full transfer of its wind businesses to Bharat Light & Power, DLF will complete the process to sell its major non-core assets.
DLF has been selling its non-core businesses since last couple of years to focus on core real estate business and cut its huge debt. It had put on sale three big-ticket non-core assets -- Mumbai plot, Amanresorts and wind-energy.
In August last year, DLF had sold a 17-acre land in Mumbai to Lodha Developers for Rs 2,727 crore. In December, it announced sale of Amanresorts back to founder Adrian Zecha for about Rs 1,650 crore.
The deal will help the National Capital-based
Be the first to comment.