NCLT Allows IL&FS to Sell 7 Wind Assets to Orix

It is learnt that the National Company Law Tribunal (NCLT) has cleared the sale of IL&FS’s seven wind energy assets aggregating to 873 MW to Japan’s Orix Corporation for Rs 4,800 crore, which will partially help reduce its debt burden of over Rs 99,000 crore. Orix Corporation is an equity partner in the group and owns 49% stake in each of these seven operating wind power plants. The seven wind power SPVs include Lalpur Wind Energy, Etesian Urja, Khandke Wind Energy, Retadi Wind Power, Wind Urja Indiae, Tadas Wind Energy and Kaze Energy.