Latest news with #Actis-backed
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.
Time of India
23-06-2025
- Business
- Time of India
BluPine Energy secures Rs 2,416 cr debt for its FDRE project
BluPine Energy on Monday 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 Rs 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." Live Events 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 emmissions. Economic Times WhatsApp channel )
Time of India
28-05-2025
- 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.
