BluPine Energy has entered into a power purchase agreement (PPA) with APL Apollo Building Products to establish a 61.65 MW solar plant in Chhattisgarh.
Under the agreement, APL Apollo and other offtakers will hold a 26 per cent stake in the special purpose vehicle of BluPine Energy for the project, utilising a group captive structure. This development boosts BluPine’s commercial and industrial capacity to around 400 MW, with an ambitious target of reaching 1,000 MW in the near future. The new solar plant is expected to generate approximately 94.5 MUs of electricity annually.