Mumbai: Despite uncertainty looming large over the sale of 85 per cent foreign equity in bankrupt Enron's Dabhol Power Company (DPC), yet another global energy major BP has thrown its hat in the ring by expressing interest in the idle 2,184 mw project.

"BP has officially communicated its Expression of Interest (EOI) in participating in the due diligence process of DPC on March 7", the company said in a statement on March 8.

Confirming the receipt of BP's EOI, financial institutional sources said the IDBI (Industrial Bank of India) led consortium "will now examine the validity of the EOI as last date for submission of the same has long expired on February 7".

"We will take a legal view on this as per the parameters of the advertisement issued and decide whether or not BP qualifies for bidding for three billion Dollar plant," sources added.

Explaining the rationale behind its interest in DPC, the energy major said it believed that the Dabhol asset was a key piece of infrastructure, which "if properly restructured could play an important role in development of gas business in India".

When contacted in Delhi, BP vice-president (Gas and Power) Shashi Mukundan declined to comment on the development.

In fact the company statement said that at this stage BP was not in a position to comment further until it undertakes the due diligence and has more comprehensive understanding of the project.

So far, IDBI has received seven bids from global and Indian energy companies.

PTI