Indian renewable energy solutions company Suzlon Energy has divested two of its subsidiaries to peer CLP Wind Farms (India) Ltd., a unit of CLP Power India Pvt. Ltd.
Suzlon divested the remaining stake in its subsidiaries S.E Solar Ltd. and Gale Solar Farms Ltd. for consideration of 765.5 million rupees ($11.1 million) and 225.4 million rupees ($3.3 million) respectively.
In December 2017, CLP acquired a 49 percent stake in SE Solar with which it forayed into solar energy projects.
Whereas the company purchased a 49 percent stake in Gale from Suzlon in September 2018.