BluPine Energy Gets Rs. 239 Cr Funds For Solar Project In Chhattisgarh

BluPine Energy recently acquired Rs. 239 Crore in financial assistance from Tata Capital. The company plans to use these funds for a solar power project in Chhattisgarh.

BluPine Energy’s 75-megawatt project is estimated to create over 117 million units (MUs) of electricity per year. It’s expected to offset more than 107,000 tonnes of CO2 emissions, according to the report. The company is a renewable energy services firm founded in India by Actis, a global investor funding and developing sustainable infrastructure enterprises.

Tata Capital Ltd (TCL) is the Tata Group’s main financial services company and operates as a non-banking financial corporation. The company in its financial closure, shared that it secured a total debt sanction of $28.6 million for this project.

The company further elaborated by stating, “By aligning our financial strategies with our environmental goals, we aim to contribute to a greener future and demonstrate that sustainable practices are environmentally necessary and financially sound,” said Sanjeev Bhatia, CFO of BluPine Energy. Rahul Mishra, Head – C&I, BluPine Energy said that this financial closure is a big move in expanding the company’s commercial and industrial renewable energy portfolio

“With over 550 MW current capacity and goal of 1000 MW, this project is our commitment to driving sustainable growth and delivering clean energy solutions,” said Mishra. Tata Capital values this partnership as we jointly pave the way towards a greener, more sustainable future, said Manish Chourasia, Managing Director, Tata Cleantech Capital.