IL&FS to sell 100% stake in RREL wind farm project

IL&FS invites Expressions of Interest (EOI) from eligible applicants for the acquisition of 100% stakes of RREL as well as the Fixed Assets..

For the sale of its 100 percent stake in Ramagiri Renewable Energy Ltd. (RREL) and purchase of fixed assets from IL&FS Energy Development Company (IEDCL), an expression of interest (EOI), was invited by Infrastructure Leasing and Financial Services (IL&FS) on Tuesday. 

According to the EOIs, the last date for submitting the EOI and other required documents is August 10, 2021, at 5 PM. 

IEDCL is controlled by 95.54 percent of its share capital by IL&FS and its group companies. IEDCL’s subsidiary, RREL, is 100% owned by the entity.

At Ramagiri, district Anantapur, Andhra Pradesh, RREL owns and operates a 6.5 MW wind farm project with 26 wind turbines having a capacity of 250 KW each.

Additionally, IEDCL owns a wind mast at the wind farm site of RREL as well as solar irradiation measurement equipment mounted on the wind mast (together, “Fixed Assets”) that are used to gather meteorological and solar data.

For acquisition of the issued, subscribed, and paid-up shares of RREL and acquisition of the Fixed Assets, IL&FS invites Expressions of Interest (EOI) from eligible applicants.

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