| Realty major DLF today announced sale of its wind turbine projects in Tamil Nadu and Rajasthan for Rs 240.9 crore to two separate entities as part of its strategy to exit non-core businesses and reduce debt. While the company has sold the 34.5 MW wind mill project in Tamil Nadu to Tulip Renewable Powertech for Rs 188.7 crore, the 33 MW wind mill project in Rajasthan has been divested to Violet Green Power for Rs 52.2 crore. DLF, the country's largest realty firm, had sold 150MW wind mill in Gujarat to Bharat Light and Power for Rs 282.30 crore. Now, the company is left with only Karnataka's wind mill having a capacity of 11MW. In a filing to the BSE, DLF said: "a definite agreement has been entered between the company's wholly owned subsidiary DLF Home Developers and Tulip Renewable Powertech". Accordingly, Tamil Nadu's wind mill project of 34.5 MW capacity, including related assets and liabilities and relevant long term loans, has been transferred to Tulip for Rs 188.7 crore. Similarly, DLF Home Developers has entered into another agreement with Violet Green Power for sale of Rajasthan wind mill undertaking of 33 MW capacity for consideration of Rs 52.2 crore. "The transactions are in line with the DLF's objective of divesting its non core assets," the company said. The company's share price was down 0.62 per cent to Rs 233.80 on BSE in afternoon trade. The wind power project divestment is the latest in a string of deals entered by DLF in the last eight months. ... contd. Reader's Comments | Post a comment via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNEksXUnwNdcD9b-mHdB9vf5g5GstA&url=http://www.indianexpress.com/news/dlf-sells-wind-turbine-projects-for-rs-240.9-cr/1098166/ | |||
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Friday, 5 April 2013
DLF sells wind turbine projects for Rs 240.9 cr - Indian Express
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