Enel Green Power enters Indian market

In a move marking the Italian company’s first entry into the Asia-Pacific region, Enel Green Power ("EGP") has today announced the acquisition of a majority stake in BLP Energy, the utility scale wind and solar subsidiary of Bharat Light & Power Pvt Ltd in a $33m deal.
Venturini
With this transaction EGP enters the Indian renewables market, marking the Group’s first move into the Asia-Pacific region thus reaching more than 10 GW of net installed capacity globally.

Bangalore-based BLP is one of the leading renewable energy companies in India which 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.

EGP CEO Francesco Venturini said,“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.”

In its 2015-2019 Strategic Plan, EGP announced its intention to broaden its international footprint by expanding into new markets, and it complements the current Indian government’s strategy led by Prime Minister Mr. Narendra Modi of achieving 100 GW of solar and 60 GW of wind power generation capacity by 2022.



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