Larsen & Toubro (L&T) concluded the divestment of its 100% stake in the 3 x 33 MW (99 MW) hydroelectric power plant at Singoli-Bhatwari in Uttarakhand. As per the terms, the EPC Projects, Hi-Tech Manufacturing and Services conglomerate received a consideration of Rs 1,001.50 crore as divestment proceeds from Renew Power on August 30, 2021.
This deal is in line with the company's strategy to pursue the divestment path for all non-core assets in its portfolio.
L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services.
