BluPine Energy Secures INR 2,416 Cr Debt Sanction for 150 MW FDRE Project in Karnataka
BluPine Energy has successfully secured a INR 2,416 crore debt sanction for its upcoming 150 MW Firm and Dispatchable Renewable Energy (FDRE) Power Project in Aland, Karnataka.
June 26, 2025. By News Bureau
The financing was led by Standard Chartered, acting as Mandated Lead Arranger, Lender, Sole Green Coordinator, and Account Bank for this transaction.
This milestone reflects BluPine’s strategy of building integrated clean energy infrastructure — combining solar, wind, and battery storage — to address the intermittency of renewable sources and provide firm, dispatchable power to India’s grid.
Sanjeev Bhatia said, “This closure underpins BluPine’s commitment to financial stewardship, robust corporate governance, and strong execution capabilities. It reinforces our strategy of scaling up clean energy infrastructure while ensuring commercial viability and sustainable returns. This financial assistance facilitates us in building the need-of-hour FDRE projects — mix of solar, wind, and battery energy storage assets, which helps in overcoming intermittency of renewable energy sources and providing critical support to DISCOMs during peak demand hours. It is a testament to our integrated approach for enhancing integration of renewable energy and meeting rising demand of power especially during peak hours."
"As we continue to develop world-class energy solutions to meet India’s growing electricity demands, partnering with premier financial institutions that share our commitment to a cleaner, stronger grid is essential. This is a significant transaction, and we thank our lending partners for their continued confidence in BluPine and our ability to build top-of-the-line energy centers.”, added Bhatia.
Prasad Hegde, Regional Head, Infrastructure & Development Finance Group, India and South Asia, Standard Chartered, commented, “We are delighted to be the first port of call and primary relationship Bank to BluPine in India and ensure timely financial closure of their projects. Standard Chartered is committed to help businesses adapt to the impacts of climate change, build resilience and provide an opportunity for them to thrive long-term. Globally, the Group is seeking to mobilise INR 300 billion in sustainable finance by 2030 which will assist in this journey. India is a key sustainable finance market for us, and we are committed to supporting the country’s ambition to reduce overall carbon emissions and expand sustainable practices.”
The project is expected to reduce over 687,000 tonnes of CO₂ emissions annually, supporting India’s renewable energy targets and energy transition agenda.
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