BluPine Energy has announced the successful financial closure for its 120 MW solar project in Sadla, Gujarat under Gujarat Urja Vikas Nigam Limited (GUVNL) 18.
BluPine Energy has accomplished a significant milestone by securing the debt financing for its project from HDFC Bank. 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. The total debt sanctioned for this project is Rs 4.18 billion. After completion, the plant is expected to generate about 323,000 MWh of solar energy annually.