BluPine Energy Commissions 120 MW Solar Project in Gujarat
This project includes a 70 MW solar plant at Radhanpur and a 50 MW solar plant at Nenava, both located in the northern part of the state.
September 25, 2024. By News Bureau
This milestone is a testament to BluPine Energy's commitment to advancing sustainable energy solutions. The project achieved financial closure under the GUVNL 16 tender, with green financing secured through Standard Chartered Bank.
The solar plants will deliver approximately 3.23 lakh MWh of solar energy annually, offsetting an estimated 2.96 lakh tons of CO2 and providing power to around 2.7 lakh households. 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.
Commenting on this achievement, Neerav Nanavaty, CEO of BluPine Energy, stated, “With the commissioning of it’s first greenfield project, BluPine reaffirms its commitment to the state of Gujarat, and to helping meet the renewable requirements of India’s energy sector. It aligns seamlessly with India's target of achieving 500 GW of renewable energy by 2030. I extend my sincere gratitude to the Gujarat State Government and the local administration, whose constant support and guidance have been integral to the project. I also commend the teams’ hard work, especially through one of the hottest summers on record, and the unwavering support of our investors, partners, and stakeholders in achieving this first of many greenfield projects.”
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 in in various stages of operation, construction and advanced development.
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