IL&FS is seeking proposals to sell stake of IL&FS Energy Development Company (IEDCL) in Shendra Green Energy (SGEL).
SGEL is a 100 per cent subsidiary of IEDCL.
LSI Financial Services is the transaction advisor to IL&FS for the potential transaction.
SGEL is a 13 MW biomass-based power with 21.6 acres of land, incorporated on February 18, 2005 and is situated in Shendra MIDC Aurangabad, Maharashtra.
The company signed PPA with Maharashtra State Electricity Distribution Company (MSEDCL) for 13 years on October 12, 2006 and started commercial operation on December 7, 2008. Currently the plant is not in operation since June 2015.
Eligible applicants have to submit the RFP by 6 p.m., August 30, 2021.