BluPine Energy has secured Rs 17.87 billion in funding from the National Bank for Financing Infrastructure and Development (NaBFID) to enhance its solar energy portfolio.

The company stated that the funding will lower debt servicing costs, improve cash flow, and provide greater financial flexibility. The capital will be used to repower existing solar assets, improving their efficiency and operational effectiveness.

BluPine Energy, backed by global investor Actis, plans to leverage the financing for long-term portfolio expansion, enhancing its internal rate of return (IRR) while advancing its sustainability goals.

(Business Standard)