BluPine Energy has secured the financial closure for its 100 MW solar power project in Tharad, Banaskantha district of Gujarat under the Gujarat Urja Vikas Nigam Limited tender.
The company has secured debt financing worth Rs 3.76 billion from Standard Chartered Bank, which acted as the sole mandated lead arranger, lender, green loan coordinator and account bank. The project is being developed through BluPine’s wholly owned subsidiary, Solarcraft Power India 5 Private Limited.
The project is expected to be commissioned in the first half of 2026 and will support Gujarat’s renewable energy targets and contribute to India’s broader clean energy transition.
