BluPine Secures ₹376 Crore for Gujarat Solar Project

• BluPine Energy secures ₹376 crore for 100 MW solar project in Gujarat, advancing India's renewable goals with Standard Chartered's support. Commissioning set for mid-2026.

BluPine Energy Private Limited, supported by Actis, has secured ₹376 crore in debt financing for a 100 MW solar project in Tharad, Gujarat, through its subsidiary Solarcraft Power India 5 Pvt. Ltd. The project, under the GUVNL 22 tender, reached financial closure with Standard Chartered as the Sole Mandated Lead Arranger and Green Loan Coordinator. This milestone underscores BluPine's commitment to expanding clean energy infrastructure and ensuring sustainable returns.

The solar plant is slated for commissioning by mid-2026, aligning with the Power Purchase Agreement. It will bolster Gujarat's renewable energy targets and India's energy transition. BluPine continues to grow its renewable portfolio across India, focusing on solar and wind projects.

How will BluPine's 100 MW solar project impact Gujarat's renewable energy goals?

• Contributes significantly to Gujarat's target of achieving 30 GW of renewable energy capacity by 2022 and 100 GW by 2030.
  
• Supports Gujarat's aim to increase the share of renewable energy in its overall energy mix, reducing reliance on fossil fuels.
  
• Enhances energy security and stability in the region by diversifying energy sources.
  
• Helps in reducing carbon emissions, aligning with India's commitment to the Paris Agreement.
  
• Provides a model for future renewable energy projects in the state, encouraging further investment.
  
• Generates local employment opportunities during the construction and operational phases.
  
• Strengthens Gujarat's position as a leader in renewable energy within India.
• Contributes to the national goal of achieving 450 GW of renewable energy capacity by 2030.