Enel Green Power has announced the acquisition of a majority stake in BLP Energy, an Indian solar and wind company controlled by Bharat Light & Power, for a total consideration of approximately 30 million euros.
“With this operation – underlines the company – EGP enters the Indian renewables market and for the first time in the Asia-Pacific region, thus reaching more than 10 GW of net installed capacity globally. EGP brings the most advanced renewable technology to the Indian market and introduces global best practices in engineering design and project development, thanks to its presence in 17 countries".
BLP, one of the largest renewable energy companies in India, currently owns and operates wind farms in the states of Gujarat and Maharashtra with a combined installed capacity of 172 MW and a total annual production of approximately 340 GWh. The company also owns a portfolio of approximately 600 MW of wind projects in various stages of development.
“This acquisition opens the door for Enel Green Power the huge potential of the Indian market and further expansion into Asia,” he said Francesco Venturini, Chief Executive Officer of EGP. “We intend to contribute to the Indian government's goal of increasing the share of renewables in the country's energy portfolio. EGP is also interested in participating with BLP Energy in upcoming public solar tenders, both at the federal and state level.”
