India’s largest real estate developer, DLF, is in talks with four entities, viz, IDFC, ReNew, Bharat Light & Power and Green Orient, for the sale of its wind business for around Rs 1000 crore. The realty developer, after having acquired shareholder’s nod for the same, plans to dispose off the wind power business, in next four to five weeks.
The company’s board, as a part of big debt restructuring exercise, granted their nod to the proposal in their meeting held on May 30, 2012. Meanwhile, shareholder’s approval was sought via postal ballot results. The company has 161 Mega Watt of wind-turbine based power generation capacity, including a massive 150 MW facility in Kutch, Gujarat, and another 11.2 mw facility in Gadag, Karnataka.
Recently, DLF's wholly-owned subsidiary - DLF Hotel Holdings, has divested its entire shareholding in Adone Hotels and Hospitality (Adone) for Rs 567 crore. Pursuant to this disinvestment, Adone and its wholly-owned subsidiary, Marala Real Estate, ceased to be subsidiaries of the company.