DLF Informed BSE of Signing Agreement of Sale of Rajasthan and Tamil Nadu based Wind Mill Projects
To bare the debts of company, DLF, India's largest real estate firm, has signed definitive agreements according to which it will sell its assets of wind power present in Tamil Nadu and Rajasthan. The company gave a statement that - the transactions are in line with the DLF's objective of divesting its noncore assets.
The company informed Bombay Stock Exchange in a notice that DLF Home Developers Ltd (DHDL) which is company's wholly-owned subsidiary has done a definite agreement to sell its Tamil Nadu based wind mill with the undertaking of 34.5 MW capacity to Tulip Renewable Powertech for a lump sum consideration of Rs 188.7 crore.
In another agreement with Violet Green Power, DHDL has sold its Rajasthan based wind mill with the undertaking of 33 MW capacity for lump sum consideration of Rs 52.2 crore.
Last year in August, DLF sold Lodha Developers a 17-acre land in Mumbai for the amount of Rs 2,727 crore. And in December last year it made an announcement of selling Amanresorts back to its founder Adrian Zechafor an amount of Rs 1,650 crore. DLF also sold its Gujarat based wind mill project for a sum of Rs 282 crore this January.