IL&FS invites bids to sell stake in 6.5 MW Ramagiri RE project

28 Jul 2021 CW Team

IEDCL's total issued, subscribed, and paid-up share capital is held by IL&FS and its group companies, which account for 95.54%. At Ramagiri in the Anantapur district of Andhra Pradesh, Ramagiri Renewable Energy, a 100 % subsidiary of IEDCL, owns and operates a 6.5 MW wind project with 26 250 kW wind turbines. Since April 2019, the wind farm has been inactive.

IEDCL also owns the project's fixed assets, which are used to collect meteorological and solar data.

For meteorological data collection, a 100-meter lattice tower with a 300 mm tower diameter and face width was installed at the wind project, complete with 5 anemometers, two boom-mounted vanes, and temperature and pressure sensors.

Solar irradiance measurement equipment, including a pyranometer and its levelling plate, an anemometer, and a wind direction vane, is also installed on the wind mast equipment to measure the solar potential at the site.

The EoI is for the purchase of 100% of the 6.5 MW wind project as well as the fixed assets listed above.

The deadline for bid submissions is 10th August 2021.

Bidders must have at least Rs 50 million in assets or committed funds in India to participate in the bidding process. The bidder's net worth must be at least Rs 10 million.

The bidder should not have been barred or restricted from making investments in India or its jurisdictions for incorporation and operations by any regulatory authority. The bidder must be eligible to carry out the potential transaction under Indian law.

If an applicant is an Indian public sector undertaking, the eligibility criteria will not apply if the applicant does not submit a letter of support from the central government or a state government, as the case may be, at the time of bid submission.

Foreign entities submitting an EoI should ensure that all documents submitted as part of the process are properly legalised in accordance with the EoI invitation.

Image Source

Also read: NTPC, ONGC to scale-up offshore wind energy development

Infrastructure Leasing and Financial Services Limited (IL&FS) has invited expressions of interest (EoI) to purchase 100% of Ramagiri Renewable Energy (a 6.5 MW wind project) and IL&FS Energy Development Company Limited's (IEDCL) fixed assets. IEDCL's total issued, subscribed, and paid-up share capital is held by IL&FS and its group companies, which account for 95.54%. At Ramagiri in the Anantapur district of Andhra Pradesh, Ramagiri Renewable Energy, a 100 % subsidiary of IEDCL, owns and operates a 6.5 MW wind project with 26 250 kW wind turbines. Since April 2019, the wind farm has been inactive. IEDCL also owns the project's fixed assets, which are used to collect meteorological and solar data. For meteorological data collection, a 100-meter lattice tower with a 300 mm tower diameter and face width was installed at the wind project, complete with 5 anemometers, two boom-mounted vanes, and temperature and pressure sensors. Solar irradiance measurement equipment, including a pyranometer and its levelling plate, an anemometer, and a wind direction vane, is also installed on the wind mast equipment to measure the solar potential at the site. The EoI is for the purchase of 100% of the 6.5 MW wind project as well as the fixed assets listed above. The deadline for bid submissions is 10th August 2021. Bidders must have at least Rs 50 million in assets or committed funds in India to participate in the bidding process. The bidder's net worth must be at least Rs 10 million. The bidder should not have been barred or restricted from making investments in India or its jurisdictions for incorporation and operations by any regulatory authority. The bidder must be eligible to carry out the potential transaction under Indian law. If an applicant is an Indian public sector undertaking, the eligibility criteria will not apply if the applicant does not submit a letter of support from the central government or a state government, as the case may be, at the time of bid submission. Foreign entities submitting an EoI should ensure that all documents submitted as part of the process are properly legalised in accordance with the EoI invitation. Image Source Also read: NTPC, ONGC to scale-up offshore wind energy development

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