Sterlite Power has concluded the sale of three assets from its portfolio in Brazil worth around $ 100 million, which will help the company advance its business strategy in the country, the company said on Monday.
The company now has seven projects in Brazil, which are at different phases of execution.
“Recently we divested some of our projects to marquee developers and investors, which reflects the high quality of assets in our portfolio. We remain committed to sustainable execution of our projects which contribute to the expansion of the energy transmission system of Brazil,” Pratik Agarwal, managing director, said in a statement.
Of its existing portfolio, Vineyards, in Rio Grande do Sul, is in the advanced phase of construction. The project is already partially energized, corresponding to 70% of the enterprise and is scheduled for final delivery this year. The other six are in different phases of environmental licensing.
Source: Economic Times