BluPine Energy, an Actis backed renewable energy platform, today announced the successful financial closure of debt funding worth INR 376 crore for its 100 MW solar power project under development at Tharad in Banaskantha district of Gujarat.
The project, won in an auction by GUVNL, is being developed through BluPine arm Solarcraft Power India 5.
Standard Chartered acted as a sole mandated lead arranger, lender, green loan coordinator and account bank.
“The financing documents have been executed for the INR 376 crore project finance green loan secured from Standard Chartered, marking the financial closure of the project,” stated the company.
This project is slated for commissioning in the first half of 2026, as per the Power Purchase Agreement (PPA) terms.
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