IL&FS invites EoI for the divestment of its stake in renewable energy projects

Infrastructure Leasing & Financial Services (IL&FS) has invited expressions of interest (EoIs) for the sale of its stake in renewable energy projects. The company plans to sell its basket of all assets in asset portfolio 1, 2 and 3. Asset portfolio 1 is divided into three sections (1A, 1B and 1C). Asset portfolio 1A, 1B and 1C comprise a majority stake in five special purpose vehicles (SPVs) operating wind power plants, with an aggregate capacity of 569.2 MW, a majority stake in an SPV operating a wind power plant with an aggregate capacity of 256 MW and a majority stake in an SPV operating a wind power plant with an aggregate capacity of 48.3 MW respectively. Asset portfolio 2 includes IL&FS Wind Power Services Limited, an asset management company providing asset management, commercial, regulatory and financial services. Asset portfolio 3 is further divided into five sections (3A, 3B, 3C, 3D and 3E). Asset portfolios 3A, 3B, 3C, 3D and 3E comprise an SPV constructing a wind power plant with an aggregate capacity of 43.2 MW, an SPV constructing a wind power plant with an aggregate capacity of 60.8 MW, a business division conducting project development and implementation of wind power plants, IL&FS Solar Power Limited, which develops, operates and maintains solar power plants, and a business division conducting project development and implementation of solar power plants of approximately 300 MW respectively.

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