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GAIL might take over wind energy assets from debt-ridden IL&FS: Sources

Sources said that GAIL would not consider buying the entire wind energy assets of IL&FS unless offered at a steep discount

GAIL might take over wind energy assets from debt-ridden IL&FS: Sources

New Delhi: State-owned gas utility Gas Authority of India Limited (GAIL) is keen on acquiring some of the wind assets of debt-ridden Infrastructure Leasing and Financial Services (IL&FS) but is yet to have any discussion on the matter, sources familiar with the development said. The new board of shadow bank IL&FS, which was appointed last month, has decided to sell off some of its assets as part of a restructuring plan. The bank is reeling under a crisis because it has defaulted on some of its debt. Sources said that GAIL would not consider buying the entire wind energy assets of IL&FS unless offered at a steep discount.

IL&FS has an installed wind energy capacity of 775.2 MW, while GAIL, which wants to expand its renewable energy portfolio, owns 128 MW.

One of the officials said that GAIL is not aware if IL&FS is in the market to put its wind energy assets on the block. “When they come to the market and to us, we will have a look at it,” he said. IL&FS has an installed wind energy capacity of 775.2 MW, while GAIL, which wants to expand its renewable energy portfolio, owns 128 MW.