Call +1(917) 993 7467 or connect with one of our experts to get full access to the most comprehensive and verified construction projects happening in your area. 
Last Updated on 25th June 2024
BluPine Energy has secured funding of USD 152 million for its 198 MW wind project located in Gujarat. The company won the bid for the project from Gujarat Urja Vikas Nigam’s (GUVNL) auction to purchase power from 500 MW of grid-connected wind power projects. Tata Capital and Standard Chartered Bank will provide the loans for the project.
BluPine Energy initially won a 100 MW capacity bid along with six other companies and later acquired an additional 98 MW capacity under the greenshoe option of the tender. Once operational, the project is expected to produce approximately 65 GW of wind energy per year. The electricity produced will be supplied to Gujarat Urja Vikas Nigam Limited under a 25-year power purchase agreement.
This will help offset around 600,000 metric tons of CO2 equivalent and supply electricity to roughly 130,000 households each year in Gujarat. The project will be connected to the state transmission utility or the central transmission utility through a dedicated transmission line to deliver energy.
The annual capacity utilization factor (CUF) of the project at the time of signing the power purchase agreement (PPA) will be allowed to be revised once within the first three years. Actis, a UK investor who established BluPine Energy in India, recently announced the purchase of 369 MW of solar power assets from the Acme Group.
The acquired solar projects are spread across 14 special-purpose vehicles in the states of Uttarakhand, Punjab, and Karnataka and increase BluPine Energy’s total renewable capacity to 2.4 GW. With an investment of USD 800 million from Actis’ Energy Fund 5, BluPine Energy is dedicated to developing a state-of-the-art 4GW renewable energy portfolio, exclusively in India.
To learn more about BluPine Energy’s project, check out our renewable energy database.
The primary objective of this project is to establish a wind energy plant with a capacity of 198 MW. This plant is expected to generate approximately 65 GWh of wind energy annually, contributing significantly to India’s renewable energy sector.
Through generating 65 GWh of wind energy annually, the project aims to offset approximately 600,000 metric tons of CO2 emissions. This is equivalent to removing around 130,000 cars from the road each year. Thus, the project is a step towards achieving India’s commitments under the Paris Agreement and its goal of reducing greenhouse gas emissions.
The project also aims to bolster BluPine Energy’s presence in Gujarat’s renewable energy market. With the addition of this project, BluPine Energy’s cumulative solar and wind energy capacity in Gujarat will scale up to 750 MW. This positions BluPine Energy as a significant player in Gujarat’s renewable energy sector.
Actis, a major investor and pioneer in establishing and funding sustainable infrastructure companies, founded BluPine Energy, a top provider of renewable energy services, in India. BluPine Energy is proficient in all aspects of the renewable energy value chain in India, including project development, engineering, procurement, construction, operations, and asset management. It prioritizes unwavering adherence to the highest standards of corporate governance, compliance, and environmental, social, and governance (ESG) principles.
In less than a year, BluPine Energy has swiftly established an impressive pipeline of 1+ GW of renewable energy assets, strategically distributed across 7 states in India. The company is deeply committed to global sustainable goals with a specific focus on clean energy, uplifting the lives of communities, and education.
Are you looking for a platform that gives you reliable, high-quality, and timely project insights for Wind Farm Projects in India?
Discover the Global Project Tracking (GPT) platform by Blackridge Research, designed to provide you with the most recent India Wind Power Projects and Tenders better and faster across various stages of development:
The user-friendly interface helps you obtain early-stage awareness of projects and find the right business opportunity quickly.
Each project will have all the essential details, such as scope, capacity, CapEx, status, project description, companies involved, funding information, location, periodic updates, important event dates like construction start dates, commissioning dates, and key contact information of project owners and stakeholders.
The database is a vital resource for a wide range of entities, including developers, EPC companies, project owners, wind turbine suppliers, Operation and Maintenance (O&M) companies, data analytics and software providers, consulting and advisory firms, power utilities, investors and financial institutions lending to projects as well as refinancing existing projects, research and development organizations, companies looking for acquisitions of wind power plants, government and regulatory bodies, and law firms.
Book a Free demo to learn more about the India wind farm projects database and how we can help you achieve your goals
News_Release 26th Feb 2020
News_Release 09th Mar 2020
News_Release 20th Apr 2020
News_Release 24th Apr 2020
News_Release 28th Apr 2020
News_Release 05th May 2020
