Sustainable Milestone through Standard Chartered’s Green Loan Financing
BluPine Energy, backed by Actis, has successfully attained financial closure for its 120 MW solar project in Gujarat, securing a green loan of INR 511 crores (USD 62 Million) from Standard Chartered.
Project Impact and Clean Energy Commitment
Upon completion, the INR 665 crore investment project is expected to generate 3.23 lakh MWH of solar energy annually, offsetting 2.96 Lakh tons of CO2 and powering around 2.7 lakh households.
BluPine’s Growth Trajectory and Sustainable Vision
BluPine Energy’s CFO, Sanjeev Bhatia, expressed satisfaction in achieving the financial closure, emphasizing the company’s commitment to India’s clean energy goals and innovative environmental responsibility. CEO Neerav Nanavaty highlighted the milestone’s alignment with India’s 500 GW clean energy target by 2030.
In Summary:
BluPine Energy’s latest achievement, backed by Standard Chartered’s green financing, signifies a significant step towards India’s clean energy future. The 120 MW solar project, contributing to ambitious targets, showcases BluPine’s dedication to sustainability and growth in the renewable energy sector.
Source：businessworld.in
