Get All Access for $5/mo

BluPine Energy Secures INR 239 Cr Financial Assistance from Tata Capital The company will use the money on a solar power project in Chhattisgarh.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Sanjeev Bhatia, CFO of BluPine Energy

Renewable energy company BluPine Energy has secured INR 239 crore in financial assistance from Tata Capital for a solar power project in Chhattisgarh.

The project is in partnership with APL Apollo Building Products (a wholly owned subsidiary of APL Apollo Tubes), structural steel tubes and pipes manufacturing company, which will also be the lead consumer of the power generated from the project.

Once completed, the solar plant is expected to generate around 117 million units (MUs) of energy annually, offsetting more than 107,000 tons of CO2 emissions each year.

Sanjeev Bhatia, CFO of BluPine Energy, said, "We are witnessing a significant shift where private entities and corporates are increasingly prioritising green initiatives, sustainable practices, and adherence to ESG policies."

"Securing debt financing from Tata Capital for our 75 MWp solar project in Chhattisgarh is a major achievement for BluPine Energy and a step towards net zero emissions. By aligning our financial strategies with our environmental goals, we aim to contribute to a greener future and demonstrate that sustainable practices are environmentally necessary and financially sound," Bhatia added.

Founded in 2021, BluPine Energy is a renewable energy services company established in India by Actis, a global investor and world leader in funding and building sustainable infrastructure companies.

Manish Chourasia, Managing Director, Tata Cleantech Capital, said, "Our longstanding collaboration with BluPine Energy, spanning from a successful wind energy project to our current solar initiative, represents a steadfast commitment to creating a sustainable future for the next generation."

"By harnessing renewable energy sources, we are not only reducing carbon footprints but also driving innovation in the energy sector. Tata Capital values this partnership as we jointly pave the way towards a greener, more sustainable future," added Chourasia.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
News and Trends

"45% of All Ongoing Hydropower Projects in India are Ours": Patel Engineering

Patel Engineering reported a turnover of INR 4,400 crore in the last fiscal year, with a projected 10 per cent growth for the current year.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.

Business Process

How CEOs Can Take Control of Their Emails and Achieve Inbox Zero

Although there are many methodologies that leaders can use to manage their emails effectively, a consistent and thought-through process is the most effective way to systemize and respond to emails and is a step of stewardship for the effective leader.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.

Green Entrepreneur®

How Global Business Leaders Can Build a Sustainable Supply Chain

Businesses can build sustainable supply chains by leveraging technology to reduce environmental impact, optimize resources and track emissions while balancing operational efficiency and sustainability goals.