Funding News: BluPine Energy Secures Rs 376 Crore Debt for Solar Power Project in Gujarat

Startup: BluPine Energy

Founder: Neerav Nanavaty

About us: BluPine Energy Private Limited is a renewable energy platform established by private equity funding partners Actis UK to develop and execute 4 GW of utility & C&I scale renewable energy projects in India with a committed equity of USD$800 million.

Founded Year: 2021

Office: Gurugram, Haryana

Sector: Renewable Energy Power Generation

Funding Round: Debt Funding

Investors: Standard Chartered

BluPine Energy has successfully raised Rs 376 crore debt funding for its ambitious 100 MW solar power project in Tharad, Gujarat. This project is being implemented by its wholly owned subsidiary, Solarcraft Power India 5. The company reported that the documentation has been completed for the Rs 376 crore project finance green loan raised from Standard Chartered, a key milestone in the financial closure of the project.

The solar project will be commissioned in the first half of 2026, as per the terms and conditions mentioned in the Power Purchase Agreement (PPA).

Once commissioned, this project is likely to contribute significantly to Gujarat's renewable energy goals and become an important contributor to India's overall energy transition agenda.

Website: blupineenergy.com