Infrastructure Leasing & Finance Services has put its renewable energy assets up for sale to raise funds and cut debt. The firm plans to sell a controlling stake in wind power generating plants. The aggregated capacity of these plants is roughly 873.5 megawatts, and others under construction have a combined 104 megawatts.
The company is seeking bids for the asset management services unit of the wind power plants and the business side that develops and implements these types of projects.
In addition, the company has also put up for sale a stake in businesses related to project development and implementation of solar power plants and projects under development of roughly 300 megawatts of capacity.
The proposed sale of stakes in these assets and businesses may be carried out as a basket, individually or in a combination.
IL&FS’ board appointed Arpwood Capital and JM Financial as transaction advisers, as well as Alvarez & Marcel as resolution consultant.
