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Japan's Orix To Buy Out Indian Wind Farms From Il&fs - Nikkei Asian Review

by asia.nikkei.com posted 4months ago 68 views
TOKYO -- Japanese leasing group Orix has moved to acquire full possession of a jointly held Indian wind farm operation from cash-strapped local partner Infrastructure Leasing & Financial Services. Orix, which controls a 49% interest in each of seven wind power plants, will buy the remaining 51% stakes from IL&FS, a private-sector nonbank lender. The transaction is set to close in two to three months after passing regulatory reviews. State-run gas company GAIL emerged as the highest bidder for the business, offering 48 billion rupees ($680 million), according to IL&FS.