BluPine Energy has secured Rs 2.39 billion financial assistance from Tata Capital Limited. The amount will be utilised towards a solar power project in Chhattisgarh. The 75 MWp solar project is in partnership with APL Apollo Building, which will also be the lead consumer of the power generated from the project. Upon completion, the solar plant is expected to generate approximately 117 million units of energy annually. The project is estimated to offset over 107,000 tonnes of CO2 emissions yearly.
In July 2024, BluPine Energy has 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. It will supply power to an estimated 270,000 households and generate around 298,000 MWh of power annually. Under a power purchase agreement (PPA), the electricity generated from this plant will be supplied to Gujarat Urja Vikas Nigam Limited. BluPine Energy is a renewable energy services company set up in India by Actis. Their aim is to develop an over 4 GW renewable energy portfolio in India. In March 2024, BluPine Energy obtained funding of Rs 12.6 billion for its 198 MW wind project located in Gujarat. In June 2024, they had signed two PPAs with Dalmia Cement (Bharat) Ltd and APL Apollo Building Products for setting up solar power plants in Karnataka and Chhattisgarh respectively.
