JP Associates to divest wind power plants.

The board of directors of Jaiprakash Associates, laden by a pile of debts, will meet soon to consider sale of wind power plants of 49 MW (40.25 MW in Maharashtra and 8.75 MW in Gujarat) aggregate capacity.

The move may help the company reduce its debts. Recently, CARE cut the ratings of the company’s bank loans and bonds to default status following delay in payment of interest and weak liquidity position.

HBL