BluPine Energy has announced financial closure for its 120 MW solar project situated in Gujarat, secured under the Gujarat Urja Vikas Nigam Limited (GUVNL)16 tender.
The green loan financing for the project has been secured through Standard Chartered. This achievement marks a significant milestone in BluPine Energy’s commitment to sustainable energy solutions.
The total investment for this project is valued at Rs 6.65 billion (USD80 million). Upon completion, the solar plant is expected to generate about 323,000 MWh of solar energy annually, offsetting an estimated 296,000 tonnes of CO2 and providing power to approximately 270,000 households. The electricity generated from this plant will be supplied to GUVNL under a power purchase agreement for 25 years from the scheduled commercial operation date.
(Private)