BluPine Energy Secures ₹2,416 Cr to Build Hybrid Clean Power Project in Karnataka
The Actis-backed clean energy firm secures major debt support to develop a solar-wind-storage hybrid power project under SJVN’s FDRE initiative in Karnataka.
BluPine Secures Key Funding to Propel Clean Energy Expansion
BluPine Energy, a key player in India’s clean energy sector, has taken a significant step toward expanding its renewable footprint by securing ₹2,416 crore in debt financing. The funds will be utilized to construct a 150 MW hybrid renewable energy facility in Aland, Karnataka, designed for continuous and reliable power delivery. The initiative is spearheaded by BluPine’s fully-owned subsidiary, Solarcraft Power India 16 Pvt Ltd, under the larger 1,500 MW FDRE scheme floated by SJVN in June 2023.
With this new infusion of funds, BluPine reaffirms its strategic vision to accelerate the development of integrated renewable energy infrastructure combining solar, wind, and energy storage systems to ensure uninterrupted power supply even during peak demand hours.
About the Aland FDRE Project: A Hybrid Model for Energy Resilience
The Aland-based FDRE initiative is designed to harness the complementary strengths of various green energy technologies. By blending solar and wind generation capabilities with advanced battery storage solutions, the project aims to resolve the long-standing issue of energy intermittency — a key challenge in the renewable sector.
The project’s hybrid structure ensures consistent power generation and delivery to utilities, especially during demand surges, making it an ideal solution for DISCOMs seeking stable green energy supply.
Scheduled for commissioning in 2026, the project will play a pivotal role in India’s efforts to achieve energy security and sustainability by offering firm and dispatchable renewable energy, which mimics the reliability of traditional thermal plants.
Strategic Financial Backing by Global Lender
Standard Chartered has taken the lead in this financial deal, serving in diverse capacities such as chief arranger, exclusive green facilitator, account custodian, and funding provider. Their involvement underscores the growing confidence of global financial institutions in India’s clean energy trajectory and BluPine’s credibility as a developer.
This timely financial closure paves the way for smooth execution of the project and aligns with the broader vision of decarbonizing India’s energy mix. The bank’s participation also signals an increased appetite among institutional lenders to fund blended renewable-plus-storage projects, which are becoming critical for grid stability.
Driving India’s Energy Transition Agenda
India’s renewable energy roadmap is anchored on achieving ambitious emission-reduction goals while ensuring energy access across its vast population. Projects like BluPine’s Aland FDRE installation are instrumental in pushing the nation toward its non-fossil fuel targets.
The expected environmental impact of the project is noteworthy. Upon becoming operational, it is estimated to curb around 687,043 tonnes of carbon dioxide emissions annually. Such a reduction contributes directly to climate mitigation efforts and supports India’s commitment under the Paris Agreement.
The ability to provide power consistently through a firm and dispatchable setup makes this project a model for future green infrastructure developments. This hybrid approach enhances reliability, making renewable energy a more practical replacement for conventional power sources.
Alignment with Government Tenders and Green Policies
BluPine’s involvement in the SJVN 1,500 MW FDRE bid reflects its proactive approach to supporting government-backed sustainable energy programs. The tender, launched in June 2023, is part of the Ministry of Power’s broader push to ensure the next wave of renewable capacity is not only clean but also dependable.
By being an early mover in this segment, BluPine positions itself favorably within the evolving renewable landscape. Projects under this scheme are expected to serve as benchmarks for other developers looking to combine multiple energy technologies into one cohesive power solution.
Actis-Backed Platform Continues to Build Momentum
BluPine Energy, backed by global investment firm Actis, has consistently focused on scalable, high-impact renewable projects across India. The successful debt closure for the Aland project highlights its capacity to attract long-term capital and deliver bankable projects.
Its portfolio strategy focuses not just on capacity expansion but also on technological integration that improves energy availability, reliability, and carbon efficiency. As more hybrid projects emerge, BluPine’s execution capabilities and early successes are likely to offer competitive advantages in the Indian renewable energy market.
Final Thoughts
BluPine Energy’s latest milestone—securing ₹2,416 crore in debt for a 150 MW FDRE project—marks a significant advancement in India’s journey toward a more resilient and sustainable power infrastructure. With hybrid systems that blend solar, wind, and storage, the project is tailored to address key energy transition challenges like intermittency and peak-time shortages.
Expected to go live in 2026, the Aland project aligns perfectly with national clean energy goals, offering a reliable source of green power and reducing carbon emissions by nearly 687,000 tonnes each year. With the support of strategic financial partners and the backing of Actis, BluPine is well on track to deliver high-impact energy solutions that could serve as blueprints for the future of India’s renewable sector.
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