On Wednesday, BluPine Energy celebrated a significant milestone with the commissioning of its inaugural solar power project, boasting a capacity of 120 megawatts in the state of Gujarat. This landmark initiative is poised to generate approximately 323,000 megawatt hours (MWh) of clean electricity annually, effectively reducing carbon dioxide emissions by an impressive 296,000 tonnes each year, as highlighted by a statement from the company.
The newly launched solar project encompasses two distinct plants: a 70 MW facility located in Radhanpur and a 50 MW facility situated in Nenava. The project successfully reached financial closure under the GUVNL 16 tender, which is a part of the Gujarat Urja Vikas Nigam Ltd‘s framework. Notably, the funding for this endeavor was facilitated through green financing secured from Standard Chartered Bank, underscoring the project’s commitment to sustainability and environmental responsibility.
Under a 25-year Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam Ltd (GUVNL), the electricity produced from this project will be channeled into the grid, contributing to the state’s growing demand for renewable energy. This agreement signifies a long-term partnership that will not only benefit BluPine Energy but also support Gujarat’s transition toward a greener energy landscape.
With the addition of this solar project, BluPine Energy has significantly bolstered its renewable energy capacity in Gujarat. The company now boasts a total capacity of 540 MW in solar energy and an additional 290 MW in wind energy, all of which have been obtained through various tenders from GUVNL. This impressive growth reflects BluPine’s commitment to contributing to India’s renewable energy goals and enhancing the country’s overall energy security.
BluPine Energy is a renewable energy services provider established in India, backed by Actis, a renowned global investor recognized for its leadership in financing and developing sustainable infrastructure ventures. The establishment of this solar project aligns with the broader vision of promoting clean energy solutions and reducing carbon footprints across the nation.
As the world increasingly focuses on sustainable development and the urgent need to combat climate change, BluPine Energy’s efforts exemplify a proactive approach to harnessing renewable resources. The company’s strategic initiatives not only pave the way for a greener future but also demonstrate the potential for significant reductions in greenhouse gas emissions through the implementation of innovative energy solutions.
BluPine Energy’s commissioning of this 120 MW solar project in Gujarat marks a pivotal step in its journey toward becoming a leader in the renewable energy sector. By investing in sustainable energy solutions and working closely with financial partners, BluPine is well-positioned to make a meaningful impact on both local and global environmental challenges while promoting economic growth in the renewable energy sector.
BluPine Energy is a leading renewable energy services company based in India, established with the backing of Actis, a global investor renowned for funding sustainable infrastructure. The company specializes in developing solar and wind energy projects, aiming to contribute significantly to India’s transition toward clean energy and reduce carbon emissions, thereby promoting a sustainable and environmentally friendly future.
