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Tuesday, Oct 18, 2005
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NEPC to sell wind energy unit

Our Bureau

CHENNAI: NEPC India on Monday informed the stock exchanges that it proposes to sell its wind energy division to Southern Windfarms Pvt Ltd for a consideration of Rs 153.59 crore.

The buyers will pay Rs 135 crore to the unsecured lenders and creditors of the company. For the rest of the money, Southern Windfarms Pvt Ltd will issue 12.5 per cent stake to a trust company to be formed by NEPC India.

NEPC officials were not available for comment.

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