BluPine Signs PPA with APL Apollo Group for 61.65 MW Solar Plant in Chattisgarh
APL Apollo along with other offtakers will hold a 26% stake under the group captive structure in the SPV of BluPine Energy for this project, elevating BluPine’s C&I capacity to about 400MW, with a target of reaching 1000MW soon.
June 10, 2024. By News Bureau
APL Apollo along with other offtakers will hold a 26% stake under the group captive structure in the SPV of BluPine Energy for this project, elevating BluPine’s C&I capacity to about 400MW, with a target of reaching 1000MW soon.
The new solar plant is projected to generate approximately 94.5 MUs of electricity annually, which is equivalent to powering 79 thousand households and offset more than 87 thousand tonnes of CO2 emissions each year. This initiative will significantly reduce operating costs and enhance energy efficiency.
Neerav Nanavaty, CEO of BluPine Energy, highlighted the importance of this partnership, stating, "This collaboration marks a significant advancement for BluPine Energy. As we expand our renewable energy portfolio and promote local economic growth and environmental responsibility, we propose to construct a 61.65MW solar facility in Chhattisgarh. With this agreement, we can further our dedication to offering innovative and sustainable energy solutions that benefit both our partners and the environment.”
Rahul Mishra, Head – C&I, BluPine Energy, also commented on the agreement, emphasizing the growth of the commercial and industrial (C&I) sector in India. “With a current C&I capacity of about 400 MW in various stages of development and an ambitious aim of 1000 MW, this initiative underscores our commitment to creating value for stakeholders and communities."
Harsh Agarwal, Senior Official from APL Apollo said, "APL Apollo is honoured to join forces with BluPine Energy for this groundbreaking initiative. This collaboration is our dedication to sustainable solutions and reaffirms our mission to catalyze beneficial transformations. Through the signing of this PPA and the construction of a solar facility in Chhattisgarh, India is moving closer to a more environmentally friendly future. By working together, we can improve the environment and benefit everyone.”
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