DLF sells 150-MW Kutch wind power project to BLP Vayu

DLF sells 150-MW Kutch wind power project to BLP Vayu Realty giant DLF Ltd has confirmed that it has completed the transfer of Kutch, Gujarat-based 150-MW capacity wind power project to BLP Vayu Private Ltd for lump sum consideration Rs 325.38 crore.

As per the terms of the agreement, DLF transferred the wind power project, including related assets, liabilities and relevant long term loans.

The deal value is significantly higher than what BLP Vayu Private Ltd, a subsidiary of Bharat Light and Power Private Ltd, had originally agreed to pay (Rs 282.3 crore) on January 31.

The company said in a statement, "The size of the deal is based on the current valuation and not January."

DLF, India's largest realty firm, had wind turbine projects in several state of the country, including Gujarat, Rajasthan and Karnataka. But, it is offloading its wind power projects in line with the company's objective of divesting its non-core assets.

Earlier, DLF sold its Tamil Nadu-based 34.5-MW wind mill project to Tulip Renewable Powertech for Rs 188.7 crore, and the Rajasthan-based 33-MW wind power project to Violet Green Power for Rs slightly more than 52 crore.