India's Green Infra buys BP unit for undisclosed sum
Indian power producer Green Infra Ltd said it has bought BP Plc's unit BP Energy India Pvt Ltd for an undisclosed sum.
 
According to some media reports, Green Infra has paid Rs6.5 billion (about $134 million) for buying BP's Indian unit, which has a 100MW portfolio of wind energy assets. This also marks BP's exit from the renewable energy market in India.
 
Green Infra is a subsidiary of infrastructure-focused private equity investment manager IDFC Private Equity. Post the deal Green Infra will have a total generating capacity of 124MW.
 
"We have a very positive investment outlook on the power sector, particularly in renewables, and have committed Rs3.6 billion (about $72 million) to support Green Infra in consolidating its leadership position," said Satish Mandhana, managing director, IDFC PE. 
 
Following the acquisition, Green Infra will own operating assets worth over Rs7.5 billion ($150 million), including 20MW of assets eligible for the generation-based incentive announced by the Indian government and a development pipeline of over 300MW. 
 
IDFC PE recently closed its third fund with a corpus of $700 million and also has provided Rs3.6 billion to Green Infra. -Yogesh Sapkale [email protected]

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Long wait for Toyota Fortuner
Those interested in roaming around in the newly launched Toyota Fortuner will have to wait for a few months more due to huge demand and the company's limited production capacity. Toyota Kirloskar Motor Pvt Ltd (TKM) has put 'on hold' all the new bookings for its newly launched 'Fortuner' following huge demand.
 
The company has asked its dealers to accept booking, without any advance payment while committing to a tentative date of delivery.
 
According to a company release, TKM had received a record 5,000 bookings for the Fortuner in just over a month. The company is trying to ramp up monthly production figures to 600 units per month from 500 units per month to meet high customer demand.
 
Last month, TKM, the joint venture between Japanese Toyota Motor Corp and India's Kirloskar group, launched Fortuner in India priced at Rs1.84 million. Originally launched in 2005, Fortuner has sold about 250,000 units in 60 countries.
TKM also said it is considering a price increase in its Corolla Altis and Innova due to rising input costs and fluctuation in currency rates.
 
At present, the company sells its Innova between Rs760,907 to Rs1.12 million while Corolla Altis is available from Rs965,000 to Rs1.31 million, ex-showroom Mumbai.
-Yogesh Sapkale [email protected]
 

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Postmen with a Difference
Vijay Khanna, former Chief Postmaster General, J&K, and Anjan Doshi run a mailing

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