BluPine Energy has signed a power purchase agreement (PPA) with SJVN Limited for the supply of 150 MW of assured peak power under the SJVN FDRE-4 tender. The PPA has a tenure of 25 years and was signed at a tariff of Rs 6.74 per unit.
The scope of work under the tender includes setting up a cumulative 1.5 GW of renewable energy projects integrated with energy storage systems to deliver 6 GWh (1.5 GW × 4 hours) of assured peak-hour power supply on a daily basis. The auction was conducted in October 2025 while the tender was floated earlier in December 2024.
In May 2026, BluPine Energy signed a PPA with KEI Industries Limited for the supply of renewable power from a project in Badnoo, Bikaner, Rajasthan. The project forms part of BluPine Energy’s 150 MW hybrid solar and battery energy storage system development.
In January 2026, BluPine Energy Private Limited raised a Rs 54 billion long-term loan from Axis Bank with a repayment period of 16 to 20 years and an interest rate of approximately 7.7 per cent. The financing is secured against a portfolio of 17 renewable energy special purpose vehicles and will be used to refinance existing debt raised from various lenders.
