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Private Sector | Chhattisgarh - India | PID: 203392
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BluPine Energy has announced the successful financial closure of its 75 MWp solar power project in Chhattisgarh. It has secured debt financing of Rs 239 crore (USD 28.6 million) from Tata Capital-led banking consortium.
The company is in partnership with APL Apollo Building Products (a wholly-owned subsidiary of APL Apollo Tubes), which will also be the primary consumer of the power generated from the project. Upon completion, the facility is expected to generate approx.117 million units (MUs) of energy annually. The project is estimated to offset over 107 thousand tonne of CO2 emissions yearly.
Marking a significant shift whereby private entities and corporates are prioritizing green initiatives, sustainable practices, and adherence to ESG policies, the funding is a major achievement for BluPine Energy, as a step towards net zero emissions.
With over 550 MW current capacity and an ambitious goal of 1000 MW, this project will drive sustainable growth and delivering clean energy solutions. With infusion of USD 800 million from Actis’ Energy Fund-5, BluPine Energy is set to achieve more than four GW renewable energy portfolio in India.
| Updated on: 13 - Sep - 2024
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