IL&FS floats EOI from investors for selling 100% stake in wind farm project

Infrastructure Leasing and Financial Services (IL&FS) on Tuesday invited expressions of interest (EOI) from eligible investors for its 100 per cent stake in Ramagiri Renewable Energy Ltd (RREL) and purchase of fixed assets of IL&FS Energy Development Company (IEDCL).

IL&FS and its group companies collectively hold 95.54 per cent of the total issued, subscribed and paid-up share capital of IEDCL. RREL is a 100 per cent subsidiary of IEDCL.

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

IEDCL also owns a wind mast, situated at the wind farm site of RREL, and a solar irradiation measurement equipment mounted on the wind mast (together 'Fixed Assets') that are used for gathering meteorological and solar data respectively.

Expressions of Interest (EOI) are invited from eligible applicants for - acquisition of the total issued, subscribed and paid-up shares of RREL and purchase of the Fixed Assets, IL&FS said in the EOI.

The last date for submission of the EOI and other required documents by 5 PM on August 10, 2021, the EOIs read.