Realty major DLF on Friday said it has sold its wind turbine unit in Karnataka for nearly Rs 30 crore to pare debts and focus on core business of real estate development. The company said it has entered into a definitive agreement with Goyal MG Gases Pvt Ltd to sell its 11.2 MW wind turbine unit located at Gadag in Karnataka. The transaction, subject to regulatory approvals, is expected to be completed by December 31, the company said in a filing to the BSE. DLF has been selling its non-core assets to pare debt which stands at a whopping Rs 21,731 crore at the end of last fiscal.
Goyal MG Gases Pvt Ltd is a manufacturer and supplier of industrial gases and the company has a large number of wind mills that are generating and exporting wind power to state electricity grids.