Latest news with #BluPineEnergy
Time of India
6 days ago
- Business
- Time of India
BluPine Energy reports 740,510 MWh of renewable generation in FY24
Mumbai: BluPine Energy , an Actis-backed renewable energy platform, on Wednesday today said it has generated over 740,510 MWh of clean energy and avoided 673,864 tonnes of CO₂e emissions in FY24. The company disclosed this in its first-ever Sustainability Report . 'As a company just three years young, we are embedding sustainability into our DNA from the outset… Our goal is to grow our operational clean energy capacity by over three times in the next three years,' said Neerav Nanavaty, chief executive officer, BluPine Energy. Sumit Barat, Chief Sustainability Officer, BluPine Energy said that by integrating ESG considerations into asset planning, procurement, and operations, the company is building a renewable energy platform that is not only scalable but future resilient. According to the official press release, the company has a portfolio of about 3 GW spanning solar, wind, and hybrid projects.
Time of India
12-05-2025
- Business
- Time of India
BluPine Energy achieves financial closure of Rs 376 crore for 100 MW solar project in Guj
Mumbai: BluPine Energy , an Actis backed renewable energy platform, on Monday said it has achieved financial closure of debt funding worth ₹376 crore for its 100 MW solar power project being developed in Tharad, Banaskantha district, Gujarat. According to the official press release, the project, undertaken under its wholly-owned subsidiary Solarcraft Power India 5, is being developed under the GUVNL 22 tender. It added that Standard Chartered acted as a Sole Mandated Lead Arranger, Lender, Green Loan Coordinator and Account Bank. The financing documents have been executed for the ₹376 crore project finance green loan secured from Standard Chartered, marking the financial closure of the project. 'This closure underpins BluPine's commitment to financial stewardship, robust corporate governance, and strong execution capabilities. It reinforces our strategy of scaling up clean energy infrastructure while ensuring commercial viability and sustainable returns. This is a significant transaction…' said Sanjeev Bhatia, chief financial officer, BluPine Energy. This project is slated for commissioning in the first half of 2026, as per the Power Purchase Agreement terms. 'We are delighted to be the first port of call and primary relationship Bank to BluPine in India and ensure timely financial closure of their projects… The Group globally also has plans to mobilise $300 billion in sustainable finance by 2030 which will assist in this journey,' said Prasad Hegde, Regional Head, Infrastructure & Development Finance Group, India and South Asia, Standard Chartered. Once operational, the project will contribute significantly to Gujarat's renewable energy targets and support India's broader energy transition agenda, added the release.
Time of India
12-05-2025
- Business
- Time of India
BluPine Energy to raise Rs 376 cr debt for solar project in Gujarat
New Delhi: BluPine Energy has closed the Rs 376 crore debt funding for its 100 MW solar power project in Tharad, Gujarat. The project is being undertaken by wholly owned subsidiary Solarcraft Power India 5, the company said. #Operation Sindoor The damage done at Pak bases as India strikes to avenge Pahalgam Why Pakistan pleaded to end hostilities Kashmir's Pahalgam sparks Karachi's nightmare "The financing documents have been executed for the Rs 376 crore project finance green loan secured from Standard Chartered, marking the financial closure of the project," it said. This project is slated for commissioning in the first half of 2026, as per the Power Purchase Agreement (PPA) terms. Once operational, it will contribute significantly to Gujarat's renewable energy targets and support India's broader energy transition agenda. BluPine Energy is a leading renewable energy platform established in India by Actis, a global investor and leader in sustainable infrastructure. Live Events With a USD 800 million commitment from Actis' Energy Fund 5, BluPine Energy is developing over 4 GW clean energy portfolio dedicated exclusively to India.
