To garners Rs 985 cr from divestment of 99 MW HEP plant to Renew Power
Larsen & Toubro, today announced the divestment of 100% stake in the 3 x 33 MW (99 MW) run of the river hydroelectric power plant owned by its subsidiary L&T Uttaranchal Hydropower (LTUHPL) to Renew Power Services, a wholly owned subsidiary of Renew Power Private. This is in line with the declared L&T focus of divesting non-core assets and improving shareholder value.The transaction is subject to completion of customary closing conditions and closing is expected to take place before 30 September 2021. The sale consideration is Rs 985 crore.
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