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India: Hindustan Zinc Puts Wind Energy Assets on Block

Vedanta Group Company Hindustan Zinc has put its wind energy assets on the block. The assets are valued at around Rs 1,500 crore and described as ‘non-core’.

 

Two renewable energy companies backed by multilateral financial institutions are vying for the business.

 

The wind power plants are located in five states -- Rajasthan, Gujarat, Maharashtra, Karnataka and Tamil Nadu. All the plants have power off-take agreements with state electricity boards in their respective states.

 

The company also has solar power plants though these are for captive use.

 

The company had previously attempted to sell the wind energy business four years ago but shelved the plan because it did not get the price it was looking for at the time.

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