Dilip Buildcon to Sell Stake in INR 8,400 Cr Under-Construction Transmission, Solar Projects to Alpha Alternatives
Dilip Buildcon has approved the divestment of its stakes in Mekhali Power Transmission and DBL Renewable to Alpha Alternatives Fund Advisors, covering power transmission and solar projects with a combined project cost of approximately INR 8,400 crore.
August 11, 2026. By Mrinmoy Dey
Mekhali Power Transmission is engaged in developing, designing and engineering a 400-kilovolt sub-station power transmission project extending to approximately 470 circuit kilometres situated in Belagavi District, Karnataka.
DBL Renewable is engaged in the development, design and engineering of a 1,363 MW (AC)/1,977 MWp (DC) solar portfolio, comprising 10 SPVs with solar assets across Madhya Pradesh.
The consideration for the transaction will be determined through a phased subscription and closing mechanism, in accordance with the terms agreed between the parties. The definitive agreements for the transaction are yet to be signed.
Kaushal Biyani, Senior Partner and Head, Private Markets, Alpha Alternatives, said, “This transaction reaffirms our confidence in our strategic partner, Dilip Buildcon, and its strong execution capabilities across infrastructure sectors. We continue to deepen our investment in high-quality, long-term infrastructure assets and see strong growth potential in India's power and renewable energy sectors. We are committed to supporting India's infrastructure development while creating sustainable, long-term value for our investors.”
Speaking on the development, Devendra Jain, Managing Director and CEO, Dilip Buildcon, said, “This transaction marks an important milestone in our DBL 2.0 journey as we build a multi-asset infrastructure platform anchored by long-duration, contracted assets. Our partnership with Alpha Alternatives across these transmission and solar projects enables us to recycle capital early in the asset lifecycle, while maintaining our disciplined focus on strengthening our balance sheet and building a more asset-light business.”
The divestment represents a value-unlocking opportunity for DBL and is aligned with the company's strategy of building an asset-light, multi-asset development platform focused on generating recurring cash flows and enabling capital recycling for reinvestment in new opportunities. The transaction also supports the company's continued efforts to deleverage and strengthen its balance sheet, while further deepening its existing long-term partnership with Alpha Alternatives, stated the company.
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