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Market abuzz with DLF wind farm sale

We had reported yesterday that DLF was seeking shareholder approval to sell 161.2MW wind farms in Gujarat and Karnataka and the sale price was likely to be around Rs 9 billion.

The market is abuzz today with the DLF wind farm sale.

One report talks about IDFC, Bharat  Light & Power, Renew Power and Orient Green as likely suitors and price to be around Rs. 9-10 billion.

Economic Times reports that Bharat Light and Power and the Hyderabad-based  Mytrah Energy are in the race to buy real estate firm DLF’s  wind power business for around Rs 10 billion.

DNA says company is in talks with four entities to sell its wind business for around Rs 90 billion.

We are given to understand that the likely entities under discussion have now reduced to two. Wind industry experts we spoke to have said that unless the valuations are reasonable the deal is unlikely to happen. However others have indicated that a couple of cash rich IPPs could still pay the premium (higher sides of valuations mentioned above ~Rs. 10bn) and might use this acquisition to get started as they have very little capacity commissioned on the ground.

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