Macquarie Infrastructure & Real Assets and Indian state-owned power company NTPC are among the businesses interested in buying renewable energy assets from debt laden Mumbai concern Infrastructure Leasing & Financial Services (IL&FS) Ltd, according to Bloomberg.
State-owned natural gas company GAIL India and the Solar Energy Corporation of India are also said to have submitted expressions of interest.
IL&FS has 300 MW of solar projects under construction, owns wind plants with a capacity of 873.5 MW and further units under construction with a proposed capacity of 104 MW.
The asset sales are key to reviving IL&FS, which had total debts of $12.6 billion as of the end of March. The company has been defaulting on loans and bonds since August.
GAIL is seeking to enter the PV plants and battery charging station market. In August, it sought shareholder approval to amend its company charter to enable investment in startups, to build solar projects and to set up battery charging stations for electric vehicles as it looks to diversify beyond gas and petrochemicals.
With the government planning a major shift to EVs by 2030, GAIL fears its pan-Indian presence in the natural gas network could be costly and believes it has the capability of setting up charging infrastructure at a faster pace.
The company also wants to harness solar at its sites for self consumption and to feed to other installations by wheeling power.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.