September 24th, 2015 – Enel Green Power announced the acquisition of a majority stake(worth approximately €30 million) in BLP Energy, a utility-scale active in solar and wind power, controlled by Bharat Light & Power Pvt Ldt, a leading renewable company in India. With this maneuver, EGP enters the Indian renewables market and is present for the first time in the Asia-Pacific region, reaching more than 10 GW of net installed capacity globally. EGP brings to the Indian market the most advanced renewable technologies and introduces global best practices in engineering design and project development, thanks to its presence in 17 countries. “This acquisition opens the door for Enel Green Power to the enormous potential of the Indian market and a further expansion in Asia,” commented Francesco Venturini, CEO of Enel Green Power. With a wind energy portfolio already in operation and a geographically diverse pipeline of solar and wind projects, the acquisition of a majority stake in an Indian independent power producer (IPP) is in line with the Italian group’s strategy. It also ensures strong development prospects with a stable market position. “This acquisition, completed in less than a year – reads a statement by the group – is one of the fastest operations carried out by EGP and demonstrates the Group’s ability to keep pace with market trends and quickly penetrate into new countries, by leveraging its global presence and experience to seize market opportunities.” In its 2015-2019Strategic Plan, EGP announced plans to expand its international presence by entering new markets, including the countries of the Asia-Pacific region. Among these, India has great potential for rapid expansion in renewable energy due to its high population and economic growth. The current Indian government, led by Prime Minister Narendra Modi, aims to increase solar installed capacity in the country by 100 GW and wind installed capacity by 60 GW by 2022, from the current 4 GW in solar and 23 GW in wind capacity . With this acquisition, EGP seizes this market opportunity, offering a valid answer. (Red)
