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Dilip Buildcon’s board has approved the proposed divestment of its stakes in two special purpose vehicles (SPVs) developing power transmission and solar projects to Alpha Alternatives, as the company seeks to recycle capital.
The transaction involves Mekhali Power Transmission and DBL Renewable. Mekhali Power Transmission is developing a 400 kV substation and associated transmission lines in Karnataka’s Belagavi district, while DBL Renewable, a wholly owned subsidiary, is developing a 1,363 MW/1,977 MW grid-connected solar PV portfolio in Madhya Pradesh. The combined project cost is estimated at around Rs 8,400 crore.
Mekhali Power Transmission was acquired by Dilip Buildcon in May 2026 after the company emerged as the successful bidder for the SPV. The consideration will be paid through a phased subscription and closing mechanism.
According to Dilip Buildcon’s regulatory filing, definitive agreements for the proposed transaction are yet to be signed.
News by Rahul Yelligetti.
