BP reportedly to sell Wind Power Assets to Indian IDFC Private Equity Fund

It is rumoured that BP is reportedly to sell its domestic Indian Wind Power Assets to a private equity fund named IDFC for INR6.5 billion ($133.8 million), the Economic Times reports.

The fund will pay for the transaction in two tranches, with the initial payment totaling INR3.5 billion, the Web site said. BP has currently 40 megawatts of assets in Maharashtra and 60 megawatts in Karnataka.

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A spokesperson for IDFC Private Equity declined to comment. Anshul Mathur, a spokesman for BP India, also declined to comment on IDFC, but said ‘The focus of BP’s wind energy business is in the U.S…There are many potential options for the Indian wind business, one of which includes divestment.’ we shall follow the developement on this story and will report any news on this in due course.

Voice your opinion! Is a deal between IDFC and BP imminent?

 

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