DLF to sell off wind power unit
DLF Ltd has been in the process of selling a number of its non-core assets to reduce its debt. In the recent endeavor it has got approval from its shareholders to sell its wind power business.
According to sources, of all the shareholders, 99.98 per cent were in favour of the resolution to sell off the unit. DLF is expected to raise Rs 1,000 crore through the sale of these assets.
DLF’s wind power assets include power plants with installed capacities of 150 MW in Kutch, Gujarat and 11.2 MW at Gadag, Karnatak. Through the raising of these fund the company is all set to bring down its debt level from Rs 22,725 crore at the end of March 31, 2012.
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Source: Economic Times
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