NCLT lets IL&FS sell 7 wind power firms to Japan's Orix for Rs 4,800 cr

Last month, IL&FS had said it would completely exit the wind energy business

The National Company Law Tribunal Wednesday cleared the sale of IL&FS's seven wind energy assets to Japan's Orix Corporation for Rs 4,800 crore, which will partially help reduce its debt burden of over Rs 99,000 crore.

The tribunal comprising of VP Singh and Rajesh Sharma allowed the government-appointed board's plea to approve sale of 51 percent stake in seven wind energy arms to Orix.

Orix Corporation is already an equity partner in the group and owns 49 percent stake in each of these seven operating wind power plants.

The seven wind power SPVs are Lalpur Wind Energy, Etesian Urja, Khandke