Green Infra buys India assets of BP Energy | business | Hindustan Times
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Green Infra buys India assets of BP Energy

Green Infra an independent power producer (IPP) announced acquisition of Indian assets of BP Energy for a total consideration of Rs 462 crore.

business Updated: Sep 16, 2009 23:40 IST

Green Infra an independent power producer (IPP) announced acquisition of Indian assets of BP Energy for a total consideration of Rs 462 crore.

IDFC PE that fully supports Green Infra will fund for the expansion of the company. “The company plans to raise over Rs 2,000 crore to fund the expansion of Green Infra over the next three years,” said an official close to the development.

Green Infra, however, plans to grow both organically and inorganically through acquisitions. “We have a fixed a target an operating capacity of between 300 MW and 500 MW over the next three years,” said Sunil Jain, CEO, Green Infra.

With the acquisition of BP Energy India, Green Infra has added 100 MW of generating capacity taking its total capacity to 124 MW.

IDFC PE has already committed Rs 360 crore to support Green Infra.