Dilip Buildcon divests stake in Madhya Pradesh solar portfolio

Dilip Buildcon has signed agreements to divest its stake in a 1,363 MW solar portfolio located across 163 sites in Madhya Pradesh. The transaction, executed through its subsidiary DBL Renewable, involves Alpha Alternatives Fund Advisors, which will partner to fund the equity portion of the project cost in a 51:49 ratio during construction. The total project cost is estimated at approximately ₹6,263 crore ($626.3 million), with the portfolio valued at roughly ₹6,829 crore. Upon completion, Alpha Alternatives-led funds or an infrastructure investment trust will acquire Dilip Buildcon’s remaining stake. This move is part of the company’s asset-light strategy to recycle capital and deleverage its balance sheet.

Separately, solar solutions provider Solex Energy has announced an expansion plan targeting revenue of over ₹4,500 crore by FY28. The company intends to invest approximately ₹4,000 crore between FY27 and FY30 to transition into an integrated renewable energy platform. This roadmap includes developing solar cell manufacturing capacity and Battery Energy Storage Systems (BESS), with a goal of establishing 2.2 GW of solar cell capacity by FY28.