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BluPine Energy Wins Rs 24.16bn debt for Renewable Energy Project in Karnataka

BluPine Energy has secured a debt sanction of Rs. 24.16 billion for its 150 MW Firm and Dispatchable Renewable Energy (FDRE) Power Project in Aland, Karnataka.

The funding falls under the SJVN 1500 MW FDRE tender issued on 20 June 2023. Standard Chartered acted as the Mandated Lead Arranger, Lender, Sole Green Coordinator, and Account Bank for the transaction.

Sanjeev Bhatia, Chief Financial Officer, BluPine Energy, said, ” This financial assistance facilitates us in building the need-of-hour FDRE projects- mix of solar, wind, and battery energy storage assets, which helps in overcoming intermittency of renewable energy sources and providing critical support to DISCOMs during peak demand hours. As we continue to develop world-class energy solutions to meet India’s growing electricity demands, partnering with premier financial institutions that share our commitment to a cleaner, stronger grid is essential.”

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