BluPine Energy has announced the successful financial closure of its 120 MW solar project in Sadla, Gujarat under Gujarat Urja Vikas Nigam Limited (GUVNL). BluPine Energy has achieved a significant milestone by securing debt financing for its project from HDFC Bank. The electricity generated from this plant will be supplied to GUVNL under a 25-year power purchase agreement from the scheduled commercial operation date. The total debt sanctioned for this project is Rs 4.18 billion. The plant is expected to generate about 323,000 MWh of solar energy annually.
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