BluPine Energy has commissioned its first 120 MW solar project in Gujarat, adding to its existing renewable energy capacity in the state. The project will generate 3.23 lakh MWh of electricity annually, offsetting 2.96 lakh tonne of CO2 emissions.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Sep 25 (PTI) BluPine Energy on Wednesday commissioned its first solar project of 120 megawatts in Gujarat.
The project will generate close to 3.23 lakh MWh (megawatt hour) of electricity, offsetting 2.96 lakh tonne of carbon dioxide emissions annually, BluePine Energy said in a statement.
The project includes a 70 MW solar plant at Radhanpur and a 50 MW solar plant at Nenava. It achieved financial closure under THE GUVNL 16 (Gujarat Urja Vikas Nigam Ltd) tender, with green financing secured through Standard Chartered Bank.
The electricity generated will be supplied to GUVNL under a 25-year Power Purchase Agreement (PPA).
With the addition of this project, BluPine Energy has expanded its renewable energy capacity in Gujarat to 540 MW for solar and 290 MW for wind, secured through tenders from GUVNL.
BluPine is a renewable energy services company established in India by Actis, a global investor and world leader in funding and building sustainable infrastructure companies.
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