BluPine Energy has secured an INR 2,416 crore debt sanction for its upcoming 150 MW firm and dispatchable renewable energy (FDRE) project in Aland, Karnataka. The financing was led by Standard Chartered, which acted as the mandated lead arranger, lender, sole green coordinator, and account bank for the transaction.
“This financial assistance enables us to build the need-of-hour FDRE projects —a mix of solar, wind, and battery energy storage assets that helps in overcoming intermittency of renewable energy sources and providing critical support to DISCOMs during peak demand hours. It is a testament to our integrated approach for enhancing integration of renewable energy and meeting rising demand of power especially during peak hours,” said Sanjeev Bhatia, CFO of BluPine Energy.
“We are delighted to be the first port of call and primary relationship Bank to BluPine in India and ensure timely financial closure of their projects,” added Prasad Hegde, Regional Head, Infrastructure & Development Finance Group, India and South Asia, Standard Chartered. “Standard Chartered is committed to help businesses adapt to the impacts of climate change, build resilience and provide an opportunity for them to thrive long-term. Globally, the Group is seeking to mobilise $300 billion in sustainable finance by 2030 which will assist in this journey. India is a key sustainable finance market for us.”
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.