BluPine Energy, a renewable energy services company established in India by global infrastructure investor Actis said it has closed a structured financing deal of ₹1,787 crore with the National Bank for Financing Infrastructure and Development (NaBFID). This deal will optimise financial structuring, enhance operational efficiency, and fuel portfolio expansion, the firm said in a statement.
The transaction was structured around a Restricted Group of 14 Special Purpose Vehicles (SPVs) spanning Punjab, Uttarakhand, and Karnataka, with a mix of central and state off-takers.
The financing will help BluPine in lowering debt servicing costs, improving cash flow, and enable financial flexibility. The funds will be deployed towards repowering existing solar assets, enhancing their efficiency and operational effectiveness, it said.
Neerav Nanavaty, CEO, BluPine Energy, said, “This transaction strengthens our financial foundation, allowing us to scale operations while contributing to India’s renewable energy goals.”
Rajkiran Rai G, Managing Director, NaBFID, said, “We are confident that our combined efforts with BluPine will lead to significant advancements in the renewable sector by driving innovations and setting new benchmarks for years to come.”
Published – March 25, 2025 08:47 pm IST
