IL&FS floats EOI for selling 100 percent stake in the wind farm project

Infrastructure Leasing and Financial Services (IL&FS) has invited expressions of interest (EOI) from eligible investors for its 100 percent 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 percent of the total issued, subscribed, and paid-up share capital of IEDCL. RREL is a 100 percent subsidiary of IEDCL.

Currently, RREL owns a 6.5-megawatt (MW) wind farm project with 26 wind turbines having a capacity of 250 kilowatt (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.

The EOIs being sought from eligible applicants for – acquisition of the total issued, subscribed, and paid-up shares of RREL and purchase of the Fixed Assets, said IL&FS in the EOI. The last date for the submission of the EOI and other required documents are August 10, 2021, the EOIs read. 

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