BluPine Energy signs PPA with KEI Industries for Rajasthan hybrid project
BluPine Energy has signed a Power Purchase Agreement (PPA) with KEI Industries Limited for renewable energy supply from a hybrid solar and battery energy storage system (BESS) project being developed in Rajasthan.
The contracted capacity will form part of up to 150 MW capacity under BluPine Energy’s special purpose vehicles (SPVs) in the state.
As part of the arrangement, KEI Industries has also entered into a Share Subscription and Shareholders’ Agreement to acquire a minimum 26% stake in Solarcraft Power India 24 Private Limited. The structure will enable KEI Industries to procure renewable power as a captive consumer for its operations.
The project is located in Badnoo, Bikaner, Rajasthan, and forms part of a larger 150 MW hybrid solar and BESS development being implemented by BluPine Energy.
The companies said the partnership reflects increasing adoption of renewable energy solutions by industrial consumers seeking long-term cost optimisation and decarbonisation of operations.
Rahul Mishra, President – Commercial and Industrial (C&I), BluPine Energy, said the agreement marks an important step in expanding the company’s renewable energy portfolio in Rajasthan.
He added that the partnership highlights growing industry demand for sustainable and commercially viable clean energy solutions, while supporting long-term industrial decarbonisation through scalable renewable energy infrastructure. Mishra also said the Rajasthan portfolio is expected to see additional strategic partnerships in the coming months.
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