+
BluPine Secures Rs 24.16 Billion For Karnataka Green Project
POWER & RENEWABLE ENERGY

BluPine Secures Rs 24.16 Billion For Karnataka Green Project

BluPine Energy has secured Rs 24.16 billion in debt financing for its 150 MW Firm and Dispatchable Renewable Energy (FDRE) project in Aland, Karnataka. The funding was arranged for its wholly owned subsidiary, Solarcraft Power India 16 Pvt Ltd, under the SJVN 1,500 MW FDRE tender dated June 20, 2023.

Standard Chartered acted as the Mandated Lead Arranger, Sole Green Coordinator, Lender, and Account Bank for the transaction. The project, comprising a mix of solar, wind, and battery energy storage systems, is expected to become operational in 2026. Once commissioned, it will enhance grid reliability and provide consistent support to electricity distribution companies (DISCOMs), especially during peak demand hours.

Sanjeev Bhatia, CFO of BluPine Energy, said the funding enables the company to build hybrid renewable systems that address intermittency and strengthen energy supply. Prasad Hegde, Regional Head at Standard Chartered, emphasised the bank’s role in ensuring timely financial closure for BluPine’s projects in India.

The FDRE plant is anticipated to reduce carbon dioxide emissions by approximately 687,043 tonnes annually, contributing meaningfully to India’s energy transition and climate targets.

BluPine Energy has secured Rs 24.16 billion in debt financing for its 150 MW Firm and Dispatchable Renewable Energy (FDRE) project in Aland, Karnataka. The funding was arranged for its wholly owned subsidiary, Solarcraft Power India 16 Pvt Ltd, under the SJVN 1,500 MW FDRE tender dated June 20, 2023.Standard Chartered acted as the Mandated Lead Arranger, Sole Green Coordinator, Lender, and Account Bank for the transaction. The project, comprising a mix of solar, wind, and battery energy storage systems, is expected to become operational in 2026. Once commissioned, it will enhance grid reliability and provide consistent support to electricity distribution companies (DISCOMs), especially during peak demand hours.Sanjeev Bhatia, CFO of BluPine Energy, said the funding enables the company to build hybrid renewable systems that address intermittency and strengthen energy supply. Prasad Hegde, Regional Head at Standard Chartered, emphasised the bank’s role in ensuring timely financial closure for BluPine’s projects in India.The FDRE plant is anticipated to reduce carbon dioxide emissions by approximately 687,043 tonnes annually, contributing meaningfully to India’s energy transition and climate targets.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code