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GAIL emerges as highest bidder for IL&FS wind power plants

GAIL (India) has been emerged as the highest bidder for Infrastructure Leasing & Financial Services’ (IL&FS) seven operating wind power plants. The bidding process to these assets having 12 sites spread across seven states was launched in November last year.

The company’s offer of approximately Rs 4,800 crore for 100 percent enterprise value contemplates no hair-cut to the debt of the SPVs, aggregating to nearly Rs 3,700 crore. These wind power assets have a total generation capacity of 874 MW.

GAIL India is India’s principal Natural Gas Company with activities ranging from Gas Transmission and Marketing to Processing (for fractionating LPG, Propane, SBP Solvent and Pentane); transmission of Liquefied Petroleum Gas (LPG); production and marketing of Petrochemicals like HDPE and LLDPE and leasing bandwidth in Telecommunications.

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