BluPine Energy on Wednesday announced the successful commissioning of its 120 megawatt (MW) solar project in northern Gujarat, which includes a 70 MW solar plant at Radhanpur and a 50 MW solar plant at Nenava.
The project achieved financial closure under the GUVNL 16 tender, with green financing secured through Standard Chartered Bank, BluePine Energy said.
The solar plants will deliver around 3.23 lakh megawatt hour (MWh) of solar energy annually, offsetting an estimated 2.96 lakh tonnes of CO2 and providing power to around 2.7 lakh households, it added.
The project was successfully completed in 18 months, with over 750 skilled and unskilled workers contributing more than 500,000 safe man-hours to set up the plant, which spans 500 acres. The electricity generated will be supplied to Gujarat Urja Vikas Nigam (GUVNL) under a 25-year Power Purchase Agreement (PPA).
As part of our commitment to giving back to the community, we also completed a Utility-Scale Renewable Energy Technician Training Program in Gujarat, training 140 youths. This initiative aims to bridge the demand-supply gap for skilled workers in the sector while enhancing the quality of life in the communities where we operate.
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. This brings the company’s total renewable capacity to 2.6 GW which is in various stages of operation, construction and advanced development.
With an investment of $800 million from Actis’ Energy Fund 5, BluPine Energy is dedicated to developing more than 4 gigawatts (GW) of renewable energy portfolio, exclusively in India.