DLF is reportedly planning to sell its wind energy business for about Rs 900 crore to an unlisted firm founded by the former General Electric India boss Tejpreet Singh Chopra.
Initially, the company will sell windmills that can generate up to 200 megawatts of power and have permission from state governments to transfer power purchase agreements. Afterwards, it will sell the assets that can generate another 28 MW of power.
The company needs the permission of state government for transferring PPA before they sell power generating assets.
DLF, founded by billionaire Kushal Pal Singh, has a land bank of 10,255 acres, the biggest in the real estate sector. At its peak, its debt pile stood at Rs 23,000 crore.
