BluPine Energy signs PPA with Dalmia Cement for 46.87 MWp solar plant

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BluPine Energy, a leading renewable energy services company established in India by global infrastructure investor Actis, has signed a power purchase agreement (PPA) with Dalmia Bharat arm-Dalmia Cement (Bharat) Ltd a 46.87MWp solar power plant to be established in Karnataka under the captive structure.

Dalmia Cement (Bharat) will own a minimum of 26% equity stake in the special-purpose vehicle of BluPine Energy specially incorporated for this project. The project will boost BluPine’s commercial and industrial (C&I) RE capacity to over 400 MW.

The solar plant is expected to generate around 93.75 million units of electricity annually, offsetting over 85 thousand tonnes of CO2 emissions each year.

With this latest partnership, BluPine Energy’s total renewables capacity has reached 2.4 GW, including over 725 MW of operational capacity across 27 sites in seven states in India. With an investment of $800 million from Actis’ Energy Fund 5, BluPine Energy aims to develop 4+ GW of renewable energy portfolio, exclusively in India.

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