Latest news with #SanjeevBhatia
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 )
The Hindu
13-06-2025
- Health
- The Hindu
Union Health Ministry's intervention sought to protect interest of Chandigarh's GMCH students
MBBS students and their parents at the Government Medical College and Hospital (GMCH), Chandigarh, have sought the intervention of the Union Health Ministry to halt the proposed reallocation of State quota seats to the all-India quota (AIQ) for admission to postgraduate (MD/MS) courses in the academic year 2024–25. As the admission process is currently under way, GMCH has, through a notification dated June 3, stated that half of the State quota seats for postgraduate admissions will now be filled on the basis of all-India merit under NEET-PG 2024. The notification further mentioned that the third counselling round for the remaining (32) State quota seats will be filled equally based on Institutional Preference and AIQ rank obtained in NEET-PG. The GMCH offers approximately 148 postgraduate seats, distributed between the State and all-India quotas. Students and parents have raised objections to the revised mechanism. 'We are opposing this decision because following this notification, half of the State quota seats would be filled through the all-India quota, which would rise up to 75%, exceeding the set National Medical Commission (NMC) norms that limit AIQ to 50% across the country,' Dr. Sanjeev Bhatia and Dr. A.K. Agarwal, who are representing the affected group, said. 'This shifting of seats puts GMCH students at a significant disadvantage. The GMCH would effectively be the only college in India with 75% of its PG seats under AIQ, which is grossly unjust. If such an unwanted change — which is apparently against the spirit of existing five-judge Supreme Court judgment allowing 50% Institutional Preference quota seats — is enforced, then all medical colleges across India should follow the same 75% AIQ rule, giving GMCH students equal rights. There should be uniformity,' Dr. Bhatia said. 'We request immediate intervention of the Union Health Ministry, Director General of Health Services and NMC to ensure this discrepancy is addressed and to protect the rightful interest of GMCH students. A uniform and fair national policy is essential. The GMCH students and their parents request for fair and equitable justice at par with all other students all over India,' he added.
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.
