Latest news with #BluPineEnergy
Business Standard
5 days ago
- Business
- Business Standard
BluPine Energy Certified as a Great Place to Work, Reinforcing Its People-First Culture
VMPL New Delhi [India], August 13: BluPine Energy Private Limited (henceforth BluPine Energy), an Actis-backed leading renewable energy platform, has been officially certified as a Great Place to Work® by the Great Place to Work® Institute a global authority on workplace culture. his prestigious recognition reflects BluPine Energy's commitment to cultivating a high-trust, inclusive, and performance-driven environment where people are empowered to grow, lead, and thrive. The certification is awarded after a careful assessment based on employee feedback and evaluation of the company's people practices. To qualify, an organization must secure at least 70% positive responses across five core dimensions trust in leadership, fairness, pride, respect, and camaraderie. Commenting on the achievement, Neerav Nanavaty, CEO, BluPine Energy, said, "Being certified as a Great Place to Work® is a strategic milestone for BluPine Energy as it reinforces our belief that a strong, people-first culture is foundational to sustainable business growth. This recognition reflects not only the trust our teams place in us, but also our collective commitment to building an organisation where leadership, innovation, and impact thrive. At BluPine, we are intentionally creating an environment that empowers individuals to lead with purpose, drive transformative change, and contribute meaningfully to India's clean energy transition." Manisha Nair, Senior Vice President & Head - Human Resource, Administration & Corporate Communications, BluPine Energy added, "This recognition is especially meaningful because it comes directly from our employees. It validates our efforts to nurture a culture where people feel respected, valued, and motivated to do their best work. We are committed to continuously listening to our teams, evolving our practices, and investing in their holistic well-being." The certification comes at a pivotal time as BluPine Energy scales its presence in India's renewable energy sector. While accelerating its impact in clean energy, the company remains steadfast in its commitment to building a purpose-driven, people-centric culture--one that empowers individuals to perform at their best and collectively shape a more sustainable future. About BluPine Energy BluPine Energy is a leading renewable energy platform established in India by Actis, a global investor and leader in sustainable infrastructure. With an $800 million commitment from Actis' Energy Fund 5, BluPine Energy is developing a robust 4+ GW clean energy portfolio dedicated exclusively to India. BluPine Energy is an ISO-certified company, having obtained certifications under ISO 9001 for Quality, ISO 45001 for Safety, and ISO 14001 for Environment.
Time of India
03-07-2025
- Business
- Time of India
Green shoots to greenbacks: Actis eyes BluPine sale
New Delhi: UK-headquartered private equity firm Actis is weighing a sale of up to 100 per cent of its stake in Gurgaon-based renewable energy platform BluPine Energy in a deal that could value the company at $1.3-1.4 billion (about ₹11,138-12,000 crore), according to people familiar with the matter. Actis has approached multiple potential buyers, including strategic investors, for exploratory talks through its advisor on exiting the company it had launched four years ago with an $800 million commitment, the people said. If the sale goes through, it could mark Actis' third major renewable energy exit in India, following the sale of Sprng Energy to Shell for $1.55 billion in 2022 and of Ostro Energy to ReNew Power in 2018. Early exit helps return capital faster Actis is pursuing a full or partial exit from the company while much of its portfolio remains under construction, in order to de-risk its position and accelerate returns to investors, according to people with knowledge of the matter. 'The valuation will rise after commissioning, but even an earlier exit at a slightly lower value allows Actis to return capital faster, demonstrate performance and support its next fundraising,' said the person cited earlier. Another industry executive said that as a financial, not strategic, investor, Actis is focused on faster capital rotation if it ensures strong returns. As of February, BluPine Energy had a 3 GW portfolio, including 1.1 GW of operational assets and 1.9 GW under construction, according to a March report by Care Ratings. The company aims to build an overall renewable capacity of 4 GW. Actis and BluPine Energy declined to comment. Actis had infused $468 million into BluPine Energy by February, out of its total $800 million commitment from its Actis Energy 5 fund, according to Care Ratings. BluPine Energy is led by Neerav Nanavaty, former India CEO of French utility Engie, who has built the platform from the ground up—initially through acquisitions, later moving to greenfield development. Solar projects dominate the company's 3 GW portfolio, accounting for 76 per cent of capacity, while wind and hybrid assets make up 13 per cent and 12 per cent, respectively. The average tariff for its operational portfolio is ₹3.91 per unit, per Care Ratings. An increasing number of renewable energy platforms in India are looking for buyers, even as investor appetite has cooled compared to the previous financial year, when some large deals were closed. Gentari, the renewable energy arm of Malaysian state oil company Petronas, is seeking to sell up to 50 per cent of its India business. It has a portfolio of 4 GW of operating assets and 4 GW under construction assets. Edelweiss Infrastructure Yield Plus is planning to sell its entire 74 per cent stake in the 1.2 GW solar platform it co-owns with Engie. Globally, momentum behind renewables has softened. Fossil fuel companies are under less pressure to decarbonise, especially following the return of pro-fossil fuel President Donald Trump to the White House earlier this year.
Time of India
03-07-2025
- Business
- Time of India
Green Shoots to Green backs: Actis Eyes BluPine Sale
UK-headquartered private equity firm Actis is weighing a sale of up to 100% of its stake in Gurgaon-based renewable energy platform BluPine Energy in a deal that could value the company at $1.3-1.4 billion (about ₹11,138-12,000 crore), according to people familiar with the matter. Actis has approached multiple potential buyers, including strategic investors, for exploratory talks through its advisor on exiting the company it had launched four years ago with an $800 million commitment, the people said. If the sale goes through, it could mark Actis' third major renewable energy exit in India, following the sale of Sprng Energy to Shell for $1.55 billion in 2022 and of Ostro Energy to ReNew Power in 2018.
Time of India
03-07-2025
- Business
- Time of India
Green shoots to greenbacks: Actis eyes BluPine sale
Actis, a UK-based firm, might sell its stake in BluPine Energy. The deal could value the renewable energy platform at $1.3-1.4 billion. Actis has approached potential buyers for exploratory talks. This move aims to de-risk its position and accelerate returns. Other renewable energy platforms in India are also seeking buyers. Globally, the momentum behind renewables has softened recently. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: UK-headquartered private equity firm Actis is weighing a sale of up to 100% of its stake in Gurgaon-based renewable energy platform BluPine Energy in a deal that could value the company at $1.3-1.4 billion (about ₹11,138-12,000 crore), according to people familiar with the has approached multiple potential buyers, including strategic investors, for exploratory talks through its advisor on exiting the company it had launched four years ago with an $800 million commitment, the people the sale goes through, it could mark Actis' third major renewable energy exit in India, following the sale of Sprng Energy to Shell for $1.55 billion in 2022 and of Ostro Energy to ReNew Power in is pursuing a full or partial exit from the company while much of its portfolio remains under construction, in order to de-risk its position and accelerate returns to investors, according to people with knowledge of the matter.'The valuation will rise after commissioning, but even an earlier exit at a slightly lower value allows Actis to return capital faster, demonstrate performance and support its next fundraising,' said the person cited industry executive said that as a financial, not strategic, investor, Actis is focused on faster capital rotation if it ensures strong of February, BluPine Energy had a 3 GW portfolio, including 1.1 GW of operational assets and 1.9 GW under construction, according to a March report by Care Ratings . The company aims to build an overall renewable capacity of 4 and BluPine Energy declined to had infused $468 million into BluPine Energy by February, out of its total $800 million commitment from its Actis Energy 5 fund, according to Care Energy is led by Neerav Nanavaty, former India CEO of French utility Engie, who has built the platform from the ground up—initially through acquisitions, later moving to greenfield development. Solar projects dominate the company's 3 GW portfolio, accounting for 76% of capacity, while wind and hybrid assets make up 13% and 12%, respectively. The average tariff for its operational portfolio is Rs 3.91 per unit, per Care increasing number of renewable energy platforms in India are looking for buyers, even as investor appetite has cooled compared to the previous financial year, when some large deals were closed. Gentari, the renewable energy arm of Malaysian state oil company Petronas, is seeking to sell up to 50% of its India business. It has a portfolio of 4 GW of operating assets and 4 GW under construction assets. Edelweiss Infrastructure Yield Plus is planning to sell its entire 74% stake in the 1.2 GW solar platform it co-owns with momentum behind renewables has softened. Fossil fuel companies are under less pressure to decarbonise, especially following the return of pro-fossil fuel President Donald Trump to the White House earlier this year.
The Hindu
23-06-2025
- Business
- The Hindu
BluPine Energy secures ₹2,416 crore debt for its FDRE project
BluPine Energy on Monday (June 23, 2025) said it has secured Rs 2,416 crore debt financing for its 150 MW Firm and Dispatchable Renewable Energy (FDRE) Power Project in Aland, Karnataka. The project, undertaken by its wholly-owned subsidiary Solarcraft Power India 16 Pvt Ltd, is being developed under the SJVN 1,500 MW FDRE tender dated June 20, 2023, a company statement said. BluPine Energy Pvt Ltd (henceforth BluPine Energy), an Actis-backed leading renewable energy platform, today (Monday) announced the successful debt sanction of ₹2,416 crore for its 150 MW FDRE Power Project in Aland, Karnataka, according to the statement. Standard Chartered acted as Mandated Lead Arranger, Lender, Sole Green Coordinator and Account Bank for the instant transaction. Sanjeev Bhatia, Chief Financial Officer, BluPine Energy, said, "This financial assistance facilitates us in building the need-of-hour FDRE projects- mix of solar, wind, and battery energy storage assets, which helps in overcoming intermittency of renewable energy sources and providing critical support to DISCOMs during peak demand hours." Prasad Hegde, Regional Head, Infrastructure & Development Finance Group, India and South Asia, Standard Chartered, said, '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." This project is slated for commissioning in Calendar year 2026. Once operational, it will contribute significantly to India's renewable energy targets and support India's broader energy transition agenda. This shall facilitate the expansion of sustainable practices by reducing an expected 687,043 tonnes of CO₂ emmisions.
