BluPine Energy Obtains ₹1,787 Crore Structured Financing from NaBFID

BluPine Energy, a renewable energy services company backed by Actis, has secured Rs 1,787 crore in structured financing from the National Bank for Financing Infrastructure and Development (NaBFID). This funding will be used to repower existing solar assets, improve operational efficiency, and support the company’s long-term growth strategy.

The financing arrangement, advised by Argus Partners, involves a consortium of 14 direct and indirect special purpose vehicles (SPVs) under BluPine Energy, forming a Restricted Group. These SPVs manage projects across Punjab, Uttarakhand, and Karnataka, serving both central and state off-takers. Key projects include Solarcraft Sandur, Solarcraft Vijayapura, Solarcraft Kaithal, Solarcraft Babadham, Solarcraft Koppal, and Mihit Solar Power, among others. The structured financing aims to optimize the company’s financial setup, lower debt servicing costs, and provide greater cash flow flexibility.

BluPine Energy emphasized that this collaboration not only enhances its capital strength but also boosts financial resilience, positioning the company to scale operations further. The NaBFID funding reflects strong institutional backing for renewable energy companies focused on sustainable infrastructure development.

News by Rahul Yelligetti.