DLF sells part of wind power asset to VC-backed Bharat Light & Power for $90M
DLF Ltd has struck a deal to sell a part of its wind power asset to Bharat Light & Power Pvt Ltd for Rs 282.3 crore ($53 million) in cash as it continues its strategy to exit non-core businesses to cut debts. The total deal value also includes a debt component of a little over Rs 200 crore, sources said.
Although proceeds from the sale would not bring in a significant sum, given the firm’s multi-billion-dollar debt pile, it means the firm is sticking to its promise of divesting units which are not related to its real estate business.
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