IL&FS Group is to consider bids for its INR80bn ($12.56 per cent) renewable energy business, as part of a resolution process. The group, which has about INR940bn of debt, has received the first set of bids opened under an asset monetisation process, which forms part of a wider resolution procedure started by the new board. IL&FS decided to sell assets in various segments of its business, including education and roads, last November. Its renewable assets include operating wind farms with a capacity of 873.5 MW and 300 MW of under-construction solar projects.
IL&FS Group is to consider bids for its INR80bn ($1.16bn) renewable energy business, as part of a resolution process. The group, which has about INR940bn of debt, has received the first set of bids opened under an asset monetisation process, which forms part of a wider resolution procedure started by the new board. IL&FS decided to sell assets in various segments of its business, including education and roads, last November. Its renewable assets include operating wind farms with a capacity of 873.5 MW and 300 MW of under-construction solar projects.