K P Singh led - DLF is likely to sell a substantial part of its wind energy to Bharat Light & Power for about R700 Cr. The deal is likely to close in next two weeks, according to FE.
DLF is selling its wind power business as a part of its strategy to sell non-core assets to cut its debt. In July, the company?s investors had approved selling DLF?s wind energy business.
Recently, DLF completed the sell of Mumbai National Textile land to Lodha Developers for around R2727 Cr.
DLF's wind power assets include power plants with installed capacities of 150 MW in Kutch, Gujarat and 11.2 MW at Gadag, Karnataka.
The company also has PPA with Gujarat Urja Vikas Nigam and Hubli Electricity Supply. The company has an additional installed capacity of around 70 MW spread over plants in Tamil Nadu and Rajasthan in another company DLF Homes.
In the first phase DLF is selling its wind mills in Gujarat and Karnataka and later it will target its wind power assets at Tamil Nadu and Rajasthan.
The Company is targeting to raise up to R3,000 Cr by March 2013 from sale of both Aman resorts and wind energy businesses. DLF is also planning to sell hotel - Hilton Garden Inn of New Delhi.
According to recent CLSA report, DLF has to improve its cash flows along with the non-core asset sale to prevent the debt level from rising.
Recently, Bharat Forge Limited raised around $300 Mn by offloading stake in its wind energy business Kenersys.
| ? | 4871 3950 1081 4426 1048 | ? | 21176 42 3588 31601 3750 | ? | 2082 534 3928 33060 168 | ? | 29736 | ? |
?
Source: http://www.dealcurry.com/20121211-DLF-To-Sell-Stake-In-Wind-Power-Business-To-Bharat-Light.htm
school shooting in ohio shooting at chardon high school sasha baron cohen stacy keibler stacy keibler all star game oscar red carpet
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.