BluPine Energy Private Limited has secured a debt sanction of Rs 24.16 billion for its 150 MW firm and despatchable renewable energy (FDRE) project in Aland, Karnataka. The project is being developed by Solarcraft Power India 16 Private Limited, a wholly owned subsidiary of BluPine Energy.
Standard Chartered acted as the mandated lead arranger, lender, sole green coordinator, and account bank for the financial transaction. The project was secured under SJVN Limited’s 1,500 MW FDRE tender floated in June 2023. Furthermore, the project is scheduled for commissioning in 2026. Once operational, it is expected to reduce approximately 687,043 tonnes of carbon emissions annually.
In May 2025, BluPine Energy Private Limited achieved financial closure for a Rs 3.76 billion green loan from Standard Chartered to fund its 100 MW solar power project in Tharad, Banaskantha district, Gujarat..
