DLF sells part of wind power asset to VC-backed Bharat Light & Power for $90M | VCCircle
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DLF sells part of wind power asset to VC-backed Bharat Light & Power for $90M

BY  Pooja Sarkar & Bhawna Gupta
This is first leg of the deal which would be followed by sale of the remaining asset to the same firm founded by Tejpreet Singh Chopra, former chief of GE India.

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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