BluPine Energy on Monday signed a Power Purchase Agreement (PPA) with APL Apollo Building Products for setting up a 61.65 megawatt (MW) solar plant in Chhattisgarh.
APL Apollo Building Products is a subsidiary of APL Apollo Tubes, a structural steel tubes and pipes manufacturing company. APL Apollo, along with other off-takers, will hold a 26 per cent stake under the group captive structure in the SPV of BluPine Energy for this project.
This expands BluPine’s commercial and industrial (C&I) capacity to about 400 MW, with a target of reaching 1,000 MW soon, the RE services company set up in India by global infrastructure investor Actis said.
The new solar plant is projected to generate approximately 94.5 million units (MU) of electricity annually, which is equivalent to powering 79,000 households and offset more than 87,000 tonnes of CO2 emissions each year. This initiative will significantly reduce operating costs and enhance energy efficiency.
With this latest partnership, BluPine Energy’s total renewables capacity has reached 2.4 gigawatts (GW), including 730 MW of operational capacity across 27 sites in seven states.
BluPine Energy CEO, Neerav Nanavaty, said: “As we expand our renewable energy portfolio and promote local economic growth and environmental responsibility, we propose to construct a 61.65 MW solar facility in Chhattisgarh. With this agreement, we can further our dedication to offering innovative and sustainable energy solutions that benefit both our partners and the environment.”
APL Apollo Senior Official, Harsh Agarwal, said, “Through the signing of this PPA and the construction of a solar facility in Chhattisgarh, India is moving closer to a more environmentally friendly future. By working together, we can improve the environment and benefit everyone.”
BluPine Energy’s portfolio expansion includes a recent Energy Supply Agreement (ESA) signed in February 2024 with a global leader in data centre operations. This open access project features 150 MW of solar power integrated with a 70 MWhr Battery Energy Storage System (BESS).