Punj Lloyd's co-development projects to cost Rs 200 cr: Biz Head

Punj Lloyd announced yesterday that its wholly-owned subsidiary executed definitive agreements to co-develop 30 megawatts of solar assets.In conversation with CNBC-TV18, Rajat Seksaria, VP and Business Head, Punj Lloyd, said Punj Lloyd infrastructure development has won three solar power projects in the state of Uttarakhand. In these special purpose vehicles (SPVs) the company has divested 49 percent each and this has been divested to India Power Corporation limited. It is a co-development project.He further said the cost of the three projects would be around Rs 200 crore. Debt would be taken at an SPV level. The company is looking at an equity of around 40 crore on balance of Rs 140-150 crore of debt. On the impact of demonetisation, Seksaria said that it is helping the company as their payments are streamlined. He also said that the company will not be affected even in the medium-term.Watch video for more...