Enel Green Mulls $140 Million Investment In India’s Bharat Light & Power

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Enel Green Power is reportedly planning to invest around $140 million in Indian renewable energy independent power producer Bharat Light & Power.

India Wind TurbineAccording to business daily Economic Times, Enel Green Power is in negotiations with Bharat Light & Power to make equity investment worth Rs 900 crore (~ $140 million) as the latter plans to increase operational wind energy capacity from current 172 MW to up to 500 MW over the next few years.

Existing stakeholders in Bharat Light & Power (BLP), DFJ, VenturEast and UTI Capital, are not expected to exit the company completely, media reports suggest, instead, possibly expecting that the value of the company would increase further as outlook on the Indian wind energy sector remains bullish.

Most of BLP’s capacity expansion has come through acquisitions. The company acquired 150 MW worth of wind energy capacity from DLF, a leading real estate company in India, for Rs 325 crore (~ $55 million) in 2013. Last year, BLP had announced plans to invest $1 billion to expand its renewable energy capacity in India to 1 GW over the next 5 years. The equity infusion by Enel Green Power would help BLP realise that target. BLP itself remains bullish regarding the Indian wind energy sector and has been taking measures to optimise its existing and upcoming capacity. In 2013, it signed a deal with IBM to utilize the latter’s cloud computing resources to monitor wind turbines in remote areas of the country. The technology provided by IBM would allow BLP to monitor local wind conditions, operations of wind turbines and proactively take appropriate measures to optimise and increase power generation.

Image Credit: Yahoo! Blog | CC-BY-2.0

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