BluPine Energy, a renewable energy services company backed by Actis, has secured ₹1,787 crore in structured financing from the National Bank for Financing Infrastructure and Development (NaBFID). This funding will help the company repower existing solar assets, enhance operational efficiency, and support long-term expansion plans.
Strategic Financing Structure
Argus Partners advised on the financing structure, which involves a consortium of 14 direct and indirect special purpose vehicles (SPVs) under BluPine Energy. These SPVs, forming a Restricted Group, manage projects across Punjab, Uttarakhand, and Karnataka, catering to both central and state off-takers.
Key Projects Under Financing
Several major projects fall under this financing arrangement, including:
*Solarcraft Sandur
*Solarcraft Vijayapura
*Solarcraft Kaithal
*Solarcraft Babadham
*Solarcraft Koppal
*Mihit Solar Power
This strategic initiative aims to optimize financial structuring, reduce debt servicing costs, and improve cash flow flexibility.
Strengthening Capital and Financial Resilience
BluPine Energy emphasized that this funding strengthens its capital base and enhances financial resilience, allowing the company to scale up its operations effectively. As reported by projectstoday.com, the investment from NaBFID, a dedicated infrastructure financing institution, underscores strong institutional support for renewable energy enterprises focused on building sustainable infrastructure.
