Blupine secures Rs 24.16 bn loan for FDRE project in Karnataka
Author: PPD Team Date: 25/06/2025
Blupine Energy Private Limited has achieved financial closure for its 150 MW firm and dispatchable renewable energy (FDRE) project in Aland, Karnataka. The company has secured debt funding worth Rs 24.16 billion from Standard Chartered Bank.
Standard Chartered served multiple roles in the transaction. It was the mandated lead arranger, lender, sole green coordinator, and account bank.
Blupine’s project will comprise 120 MW of solar, 211.2 MW of wind, and a 176 MWh battery energy storage system (BESS). The site is located in Aland, Kalaburagi district.
The project is expected to be commissioned by May 2026. Once operational, it is projected to offset about 687,043 tonnes of carbon emissions each year.