Punj Lloyd’s wholly owned subsidiary - Punj Lloyd Infrastructure (PLIL) has executed definitive agreements with India Power Green Utility (IPGUPL) to co-develop 30 MW of solar assets in Uttarakhand, in respect of three Solar Power Projects, each of 10 MW capacity won by PLIL under the tarrif based competitive bidding process in October 2015 to be executed by its Wholly Owned Subsidiaries (WOS) namely PL Surya Vidyut, PL Sunrays Power and PL Solar Renewable.
As per the transaction, the company will divest 49% of its shareholding in its three subsidiaries. The transaction is expected to be completed once customary closing conditions and approvals are obtained. Greenstone Energy Advisors is acting as the exclusive financial advisor to PLIL for the transaction.
Punj Lloyd is a diversified international conglomerate offering EPC services in Energy and Infrastructure along with engineering and manufacturing capabilities in the Defence sector.
