L&T Concludes Divestment of 99 MW Hydroelectric Power Plant in Rs 1,001.50 Cr with ReNew

In line with its strategy to divest all non-core assets in the portfolio, Larsen & Toubro (L&T) has concluded the divestment of its 100 per cent stake in the 3x33 MW i.e. 99 MW hydroelectric power plant at Singoli-Bhatwari in Uttarakhand.

August 31, 2021. By Manu Tayal

In line with its strategy to divest all non-core assets in the portfolio, Larsen & Toubro (L&T) has concluded the divestment of its 100 per cent stake in the 3x33 MW i.e. 99 MW hydroelectric power plant at Singoli-Bhatwari in Uttarakhand.

As per the terms of the deal, the EPC projects, Hi-Tech manufacturing and services conglomerate L&T has received a consideration of Rs 1,001.50 crore as divestment proceeds from ReNew Power on August 30, 2021.  

Commenting on the divestment, DK Sen, Whole-time Director and Sr. Executive Vice President (Development Projects), L&T, said, “we have already identified our non-core assets in Nabha Power, a 2x700 MW supercritical thermal power plant at Rajpura, Punjab, L&T Infrastructure Development Projects Ltd (L&T IDPL), our subsidiary primarily engaged in road projects and power transmission lines and Hyderabad Metro, the largest Public-Private Partnership (PPP) project in the Metro rail sector for divestment. We will work out the divestment process of all these assets over a period of time.”
Please share! Email Buffer Digg Facebook Google LinkedIn Pinterest Reddit Twitter
If you want to cooperate with us and would like to reuse some of our content,
please contact: contact@energetica-india.net.
 
 
Next events
 
 
Last interviews
 
Follow us