Friday, September 17, 2021
News

IL&FS plans to sell stake in Shendra Green Energy

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Mumbai | Saturday, 2021 6:15:05 PM IST
IL&FS has sought request for proposals to sell the stake of IL&FS Energy Development Company Ltd (IEDCL) in Shendra Green Energy Ltd (SGEL).

SGEL is a 100 per cent subsidiary of IEDCL.

In an advertisement, IL&FS has said that LSI Financial Services Pvt Ltd is the transaction advisor to IL&FS for the potential transaction.

SGEL is a 13 MW biomass-based power with 21.6 acres of land, incorporated on February 18, 2005 and is situated in Shendra MIDC Aurangabad, Maharashtra.

The company had signed PPA with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 13 years on October 12, 2006 and started commercial operation on December 7, 2008. Currently the plant is not in operation since June 2015.

On April 20, 2016, the Company had notified MSEDCL to terminate the PPA

IL&FS said that the eligible applicants have to submit the RFP by 6 p.m., August 30, 2021.

"IL&FS reserves the right to suspend, modify or terminate the potential transaction at any time without providing any reason or incurring any liability to any party," the advertisement said.

--IANS rrb/sn/in

( 190 Words)

2021-07-31-12:18:05 (IANS)

 
  LATEST COMMENTS ()
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE BUSINESS NEWS
Pan Bahar launches Kamyabi Campaign with...
World Bank to discontinue Doing Business...
As investment cycle revives, demand for ...
Thailand reports 14,555 new COVID-19 cas...
Expected Covid relief measures sustain e...
Fuel prices maintain stability amidst vo...
More...
 
INDIA WORLD ASIA
Navjot Singh Sadhu lashes out at Sukhbir...
Char Dham Yatra to begin from September ...
Delhi Police: Conference underway with f...
Kerala: Dharmasastha Temple of Sabarimal...
Over 77.77 crore COVID-19 vaccine doses ...
10 houses damaged after explosive materi...
More...    
 
 Top Stories
Mika recalls pranks he played on el... 
Ford India owes Rs 602 cr as deferr... 
Ajay Devgn-starrer 'Maidaan', Hyder... 
One year of farm laws: Punjab CM as... 
Academic & sporting excellence achi... 
UP to have cyber help desk in every... 
Apple opens pre-orders for iPhone 1... 
Work-load still not resolved: Will ...