BluPine Energy announced this week the commissioning of its 120 MW solar project in Gujarat. This project includes a 70 MW solar plant at Radhanpur and a 50 MW solar plant at Nenava, both located in the northern part of the state. The electricity generated will be supplied to Gujarat Urja Vikas Nigam Ltd (GUVNL) under a 25-year power purchase agreement (PPA).
The project achieved financial closure with green financing secured through Standard Chartered Bank.
“The solar plants will deliver approximately 3.23 lakh MWh of solar energy annually, offsetting an estimated 2.96 lakh tons of CO2 and providing power to around 2.7 lakh households. The project was successfully completed in 18 months, with over 750 skilled and unskilled workers contributing more than 500,000 safe man-hours to set up the plant, which spans 500 acres,” stated BluPine Energy.
With the addition of this project, BluPine Energy has expanded its renewable energy capacity in Gujarat to 540 MW for solar and 290 MW for wind, secured through tenders from GUVNL. This brings the company’s total renewable capacity to 2.6 GW across various stages of operation, construction and advanced development.
BluPine Energy Private is a renewable energy platform established by private equity funding partners Actis UK. With an investment of $800 million from Actis’ Energy Fund 5, BluPine Energy is aiming to develop 4+ GW renewable energy portfolio, exclusively in India.
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