GIL acquires BP Energy’s wind power assets
Independent power producer Green Infra Ltd (GIL) has acquired the wind power assets of energy major BP Energy India Pvt Ltd in India. The move now makes GIL, the country’s largest IPP in the green energy space with 124 Mw.
Though the size of the deal has not been disclosed, IDFC Private Equity has disbursed Rs200 crore of the Rs360 crore it has committed to the deal, which is a combination of debt and equity. Axis Bank will provide working capital to the firm.
BP Energy has two capacities are located in Maharashtra (40 Mw) and Karnataka (60 Mw), while Green Infra has a 25 Mw capacity in Tamil Nadu. In the coming three years, the company aims at adding 300 Mw to its capacity and to start work on 300 to 500 Mw of projects. The generation verticals will also include small hydro, biomass, energy efficiency and solar power.