IL&FS to Monetise its Green Energy Portfolio Worth Rs 8,000 Crore

This comes on the backdrop of IL&FS already having received a good response for the potential sale of its two arms.

Debt laden Infrastructure Leasing & Financial Services has decided to monetize its renewable energy assets worth Rs 8,000 crore and has initiated the process to sell its controlling stake in green energy business as a part of its resolution process.

The assets put up on the block are

(i) wind power generating plants with aggregate capacity of 873.5 MW, as well as under construction wind power generating plants with aggregate capacity of 104 MW ;

(ii) asset management services for the operating wind power generating plants as well as the business division conducting project development and implementation of wind power generating plants;

(iii) businesses relating to project development and implementation of solar power generating plants and projects under development of approximately 300 MW capacity solar power plants for corporates, etc.

This comes on the backdrop of IL&FS already having received a good response for the potential sale of its two arms,

“In order to ascertain market interest, and to examine the feasibility of maximisation of value in an orderly and transparent manner, the board, acting on behalf of its relevant subsidiaries, has today initiated the process..,” IL&FS said in a statement.

“The Board is cognizant that these steps are required to advance the process for putting together resolution plan(s) for the IL&FS group, based on market interest and price discovery for various assets,” the statement further added.

The Board has appointed Arpwood Capital Pvt. Ltd. and JM Financial Ltd. as Financial & Transaction Advisors, along with Alvarez & Marsal as Resolution Consultants.