BluPine Energy Private Limited has secured the financial closure for a Rs 3.76 billion green loan from Standard Chartered. This funding has been secured for its 100 MW solar power project located in Tharad, Banaskantha district, Gujarat. The project is being developed by its wholly owned subsidiary, Solarcraft Power India 5 Private Limited, under the GUVNL 22 tender.
Standard Chartered acted as the sole mandated lead arranger, lender, green loan coordinator, and account bank for the transaction. The financing documents have reportedly been executed for the entire amount of the project finance. Furthermore, this development marks a key step in the project’s progress, which is scheduled for commissioning in the first half of 2026 as per the terms of the power purchase agreement.
In March 2025, BluPine Energy secured Rs 17.87 billion in structured financing from NaBFID to support renewable energy expansion across 14 special purpose vehicles in Punjab, Uttarakhand, and Karnataka, with both central and state off takers.
