Gas utility GAIL (India) is one of the few firms which has submitted financial bids for the renewable (wind and solar) energy portfolio of the debt-laden Infrastructure Leasing and Financial Services (IL&FS), according to sources. While around 24 firms had put in expressions of interest (EoIs), only half of them undertook due diligence for submitting financial bids. “This will be the first vertical among many of IL&FS that will come up for resolution. The financial bids are likely to be opened shortly,” sources said.
Tata Power, Adani Power and JSW Energy were among the other firms to submit EoIs. FE could not ascertain the name of the other firms which submitted financial bids. The last date for submission of EoIs was December 10, 2018. While an email sent to GAIL remained unanswered, an IL&FS spokesperson said, “The bids for renewable assets have been received and are being processed.”
