In its first acquisition in Asia Pacific region, Italy’s Enel Green Power acquired a majority stake in BLP Energy, the utility scale wind and solar subsidiary of Bharat Light & Power for a total consideration of approx. 30 million euros, the company announced on Thursday. <\/p>\n
ET was the first to report the deal in its June 12 edition. <\/p>\n
With this transaction EGP enters the Indian renewables market, thus reaching more than 10 GW of net installed capacity globally. <\/p>\n
EGP brings to the Indian market the latest renewable technology and global best practices in engineering design and project development, based on its presence in now 17 countries. <\/p>\n
BLP owns operating wind plants in the States of Gujarat and Maharashtra that have a total capacity of 172 MW with a total annual production of about 340 GWh. It also has a portfolio of approximately 600 MW of wind projects in different stages of development. BLP Group is based in New Delhi and Bangalore, and has a team of professionals with background in renewable energy, manufacturing, consulting and financial services with extensive experience in technical, development, operation & maintenance and financing activities. <\/p>\n
“This acquisition opens the doors for Enel Green Power to the huge potential of the Indian market and is the gateway to further expansion across Asia,” said EGP CEO Francesco Venturini. <\/p>\n
“We intend to contribute to the Indian government objective of increasing the share of renewables in the country’s energy portfolio. EGP is also interested in participating through BLP Energy in the country’s upcoming public solar tenders at both national and state level.” <\/p>\n
“The transaction, completed in less than one year, is one of the fastest carried out by EGP and is testament to the capacity of the Group to stay ahead of trends and to quickly enter into new countries, leveraging on its global scale and expertise to seize arising market opportunities,” the company release said. <\/p>\n
In its 2015-2019 Strategic Plan, EGP announced its intention to broaden its international footprint by expanding into new markets, including countries in the Asia-Pacific region. Among those, India is well positioned for rapid expansion in the renewable energy industry owing to its high population and economic growth. <\/p>\n
The current Indian government led by Prime Minister Mr. Narendra Modi has set a target of achieving 100 GW of solar and 60 GW of wind power generation capacity by 2022, around 4 GW of solar and about 23 GW of wind today. <\/p>\n
“This transaction validates the great team, expertise and pipeline built, and provides us the opportunity to build scale given the huge market opportunity. It brings together the global expertise of EGP and the local market understanding of the BLP Group,” said Tejpreet S. Chopra, Bharat Light & Power Group CEO.<\/p>\n","protected":false},"excerpt":{"rendered":"
In its first acquisition in Asia Pacific region, Italy’s Enel Green Power acquired a majority stake in BLP Energy, the utility scale wind and solar subsidiary of Bharat Light & Power for a total consideration of approx. 30 million euros, the company announced on Thursday. ET was the first to report the deal in its June 12 edition. With this transaction EGP enters the Indian renewables market, thus reaching more than 10 GW of net installed capacity globally. EGP brings to the Indian market the latest renewable technology and global best practices in engineering design and project development, based on […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-34607","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/34607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=34607"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/34607\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=34607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=34607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=34607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}