Indian Express Daily
Buisness

BluPine Energy obtains a Rs 1,260 crore financing for a Gujarati wind project

<p>For its wind project in Gujarat, BluPine Energy said on Wednesday that it has obtained a loan of Rs 1,260 crore from TATA Capital and Standard Chartered Bank.</p>
<p><img decoding=”async” class=”alignnone wp-image-505283″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-blupine-energy-obtains-a-rs-1260-crore-financing-for-a-gujarati-wind-project-wind–750×422.jpg” alt=”theindiaprint.com blupine energy obtains a rs 1260 crore financing for a gujarati wind project wind” width=”999″ height=”563″ title=”BluPine Energy obtains a Rs 1,260 crore financing for a Gujarati wind project 27″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-blupine-energy-obtains-a-rs-1260-crore-financing-for-a-gujarati-wind-project-wind–750×422.jpg 750w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-blupine-energy-obtains-a-rs-1260-crore-financing-for-a-gujarati-wind-project-wind–768×432.jpg 768w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-blupine-energy-obtains-a-rs-1260-crore-financing-for-a-gujarati-wind-project-wind–390×220.jpg 390w, https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-blupine-energy-obtains-a-rs-1260-crore-financing-for-a-gujarati-wind-project-wind-.jpg 1024w” sizes=”(max-width: 999px) 100vw, 999px” /></p>
<p>According to the business, after it is completed, the 198 MW facility would produce around 65 GWh (gigawatt hours) of wind energy annually, offsetting nearly 6 lakh tonne of CO2 emissions.</p>
<p>Our Gujarati solar and wind energy capacity will reach 750 MW with the inclusion of this project, spread among 7 GUVNL projects. Furthermore, with 730 MW now in operation, the total renewable energy capacity will approach 2.4 GW, according to BluPine Energy CEO Neerav Nanavaty.</p>
<p>Under the terms of a Power Purchase Agreement (PPA), Gujarat Urja Vikas Nigam Ltd. (GUVNL) would receive the power produced by this plant for 25 years from the planned commercial operation date.</p>
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