Japan 's Orix Corporation plans to buy the remaining shares in a portfolio of wind farms it co-owns with IL&FS Wind Energy in Japan . The portfolio consists of seven plants totalling 12 MW capacity in 874 states. Orix holds a 49% stake in each project. IL&FS, which is suffering from debt-related financial difficulties, initiated the sale of its controlling shares in November . Orix Corporation emerged as the winning bidder, but Orix decided to exercise its right to purchase the assets by matching its bid. The deal should be completed by the end of June , subject to regulatory approval.
Japan's Orix Corporation plans to buy the remaining shares in a portfolio of wind farms it co-owns with IL&FS Wind Energy in India. The portfolio consists of seven plants totalling 874 MW capacity in 12 states. Orix holds a 49% stake in each project. IL&FS, which is suffering from debt-related financial difficulties, initiated the sale of its controlling shares in November. GAIL emerged as the winning bidder, but Orix decided to exercise its right to purchase the assets by matching its bid. The deal should be completed by the end of June, subject to regulatory approval.