Realty major DLF Monday said it has sold its 150-MW wind power project in Kutch, Gujarat, to BPL Vayu for Rs.325 crore ($55 million).
"The transaction is in line with the DLF's objective of divesting its non-core assets," the company said in a disclosure to stock exchanges, adding it included the transfer of both assets and liabilities, including long-term loans, for the said consideration.
Apart from the wind farm in Gujarat, DLF has similar projects in Rajasthan, Tamil nadu and Karnataka. These projects, according to the company, reduce about 470,000 tons of carbon di-oxide emissions on an annual basis.