BluPine Energy has commissioned its first 120 MW solar project in Gujarat which comprises a 70 MW plant at Radhanpur and a 50 MW plant at Nenava. This project is expected to generate approximately 323,000 MWh of electricity annually, which will help reduce carbon dioxide emissions by around 296,000 tonnes and provide power to about 270,000 households.
Furthermore, the company achieved financial closure under the Gujarat Urja Vikas Nigam Limited (GUVNL) tender, securing green financing from Standard Chartered Bank. The project was completed in 18 months and will supply electricity to GUVNL under a 25-year power purchase agreement. With this, the company’s total renewable energy portfolio has reached 2.6 GW.
In July 2024, BluPine Energy raised Rs 4.36 billion for a 120 MW solar project from the State Bank of India. The project will be located in Panshina and Radhanpur in Gujarat. In July 2024, BluPine Energy secured Rs 2.39 billion financial assistance from Tata Capital Limited for a solar power project in Chhattisgarh.
