Mumbai: Gail IndiaNSE -0.69 % is the front -runner to buy the energy assets of troubled Infrastructure Leasing and Financial Services, two persons in the know of the development, said. The assets on the block could fetch Rs 6,000 crore for IL&FS and include a controlling stake in the wind power generating plants with an aggregate capacity of 873.5 MW and those under construction with a combined capacity of 104 MW. Solar power plants and projects under development of about 300 MW is also up for sale.
“Gail India is the front-runner to buy energy assets while Japanese investor Orix reserves the right of refusal to buy the stake if the valuation falls below a particular price,” said a source close to the development. Orix owns 49% in the energy assets up for sale.