Infrastructure Leasing & Financial Services Limited (IL&FS) is in advanced talks to merge its wind energy assets, housed under IL&FS Wind Energy Ltd with Orient Green Power Company Limited (NSEI:GREENPOWER). The all-stock reverse merger of unlisted IL&FS Energy Development will value the combined entity at INR 45 billion to INR 50 billion, said two people with knowledge of the matter. "The boards of IL&FS and Orient are expected to meet soon and discuss a merger proposal which, if cleared, will help the entity to acquire more wind energy assets," said one of the persons quoted earlier. "The plan is to consolidate and use stock and cash to acquire assets that will help scale up capacity to over 2,000 MW by financial year 2018." The merged entity will have INR 12 billion operating profit on revenue of INR 14 billion. Valued at seven times the operating profit, it will have a debt of INR 35 billion. IL&FS' public relations agency said, "As a matter of policy, IL&FS does not comment on media and market speculation related to the group and its affiliate companies." Orient Green Power did not respond to an ET questionnaire until press time. Orient Green Power Company Limited (NSEI:GREENPOWER) board has approved entering exclusive discussions with Infrastructure Leasing & Financial Services Limited (IL&FS) to explore a merger between wind energy assets of both companies, it said in a regulatory filing.