BluPine Energy Secures Major Funding for Gujarat Solar Project
BluPine Energy has closed a Rs 376 crore debt funding for its 100 MW solar project in Tharad, Gujarat. The project is anticipated to be operational in 2026 and is supported by a green loan from Standard Chartered. It aims to bolster Gujarat’s renewable energy goals and India's energy transition.
- Country:
- India
BluPine Energy, a prominent renewable energy company in India, has secured Rs 376 crore in debt funding for its ambitious solar power project. Located in Tharad, Gujarat, this 100 MW project represents a significant step towards enhancing the region's renewable energy infrastructure.
The funding, sourced from a green loan by Standard Chartered, signifies the financial closure of the project, set to commence by 2026 as per the Power Purchase Agreement terms. This development is crucial for meeting Gujarat's renewable energy ambitions and contributing to India's expansive energy transition goals.
Owned by Solarcraft Power India 5, a BluPine subsidiary, the initiative benefits from Actis' substantial investment. With a commitment of USD 800 million from Actis' Energy Fund 5, BluPine Energy is poised to develop over 4 GW of clean energy projects across India.
(With inputs from agencies.)
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