BluPine Energy secures solar PPA with APL Apollo Group

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BluPine Energy, a renewable energy services company established in India by global infrastructure investor Actis, has announced the signing of a solar power purchase agreement (PPA) with APL Apollo Building Products, India’s largest structural steel tubes and pipes manufacturing company. APL Apollo Building Products is an arm of APL Apollo Tubes.

BluPine Energy, through a special-purpose vehicle (SPV), will develop a 61.65 MW solar plant in Chhattisgarh for consumption by APL Apollo Building Products and other offtakers under the group captive structure.

APL Apollo along with other offtakers will hold a 26% stake in BluPine Energy’s SPV. With this project addition, BluPine’s commercial and industrial capacity has swelled to about 400 MW (in various stages of development) as it targets 1 GW. Total renewables capacity has reached 2.4 GW, including 730 MW of operational capacity across 27 sites in seven states in India.

The new solar plant is projected to generate approximately 94.5 million units of electricity annually, which is equivalent to powering 79,000 households and offset more than 87 thousand tonnes of CO2 emissions each year.  This initiative will significantly reduce operating costs and enhance energy efficiency.

 

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