Dilip Buildcon sells stake in solar portfolio to Alpha Alternatives

New Delhi: Dilip Buildcon Limited (DBL) on Monday said it has divested its stake in an under-construction solar portfolio to Alpha Alternatives.

DBL in a statement said the portfolio has an estimated total project cost of Rs 6,263 crore.

"DBL on September 18, 2026, executed definitive agreements with Alpha Alternatives for the divestment of its stake in the ten SPVs undertaking its under-construction solar portfolio, held through DBL Renewable Private Limited(DBRL)," it said.


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According to the statement, DBRL and Alpha Alternatives have partnered to fund the equity portion of the project cost in the ratio of 51:49 during the construction period.

Dilip Buildcon said the funds will be invested in the SPVs through various instruments across multiple tranches during the construction period.

"Upon completion of the portfolio, DBL's remaining 51 per cent will also be acquired by Alpha Alternatives led Funds/InVIT," it said.

DBRL is engaged in the development, design and engineering of an approximately 1,363 MW (AC) grid-connected solar photovoltaic portfolio across 163 locations in Madhya Pradesh, through the SPVs.

JM Financial acted as the exclusive financial advisor to DBL for the transaction, while Khaitan & Co. acted as the legal advisor. AZB & Partners acted as the legal advisor to Alpha Alternatives.