Reportedly, BluPine Energy Limited has secured a long-tenor loan of Rs 54 billion underwritten by Axis Bank to support its renewable energy portfolio in India.
The facility has a tenor of about 16–20 years and is secured against BluPine Energy’s operating solar and wind assets housed across 17 renewable energy special purpose vehicles. The assets are backed by long-term power purchase agreements. The proceeds from the loan will be utilised to refinance existing borrowings.