Lanco Infra to sell Budhil Hydro Power to Greenko: Report

Lanco Infratech is close to selling it’s Budhil Hydro Power Project to Greenko, sources with direct knowledge said. Deal size is expected to be around Rs 650-700 cr for the 70 MW hyro power project in Himachal Pradesh. The deal is expected to be announced soon.

Macquarie is the advisor to Lanco for sale of Budhil Hydro Project. Lanco needs to sell assets and infuse cash into the company to fulfill the terms of CDR (Corporate Debt Restructuring), a source said. A consortium of lenders has given a nod to a Rs 7,700 cr CDR package.

Greenko is an AIM-listed Indian company with a large operation in the renewable energy space. Recently, Singapore-based GIC invested $150 mn in Greenko to fund their expansion plans.

When contacted, Lanco Infratech and Greenko did not respond to the ET Now query on the deal development.