New Delhi: Dilip Buildcon Limited (NSE: DBL; BSE: 540047) (“Company”/“DBL”), one of India’s leading multi-asset infrastructure companies, today announced the execution of definitive agreements for the divestment of its stake in ten special purpose vehicles (“SPVs”) held through its wholly-owned subsidiary, DBL Renewable Private Limited (“DBRL”), undertaking the Company’s under-construction solar portfolio, to Alpha Alternatives Fund Advisors LLP and/or its affiliates and/or funds managed by Alpha Alternatives Fund Advisors LLP (“Alpha Alternatives”). The total project cost of the solar portfolio is approximately INR 6,263 Cr.
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 ten SPVs. The portfolio is being developed pursuant to power purchase agreements with Madhya Pradesh Power Management Company Limited (“MPPMCL”) under the Feeder Level Solarization component of the PM-KUSUM Component C scheme with commercial operations targeted for September 2027.
