We are pleased to have advised BluPine Energy Private Limited and its 14 direct and indirect special purpose vehicles (SPVs) in securing rupee term loan facilities of up to INR 1,787 crore from the National Bank for Financing Infrastructure and Development (NaBFID). The financing is aimed at optimizing financial structuring, enhancing operational efficiency, and supporting portfolio expansion.
BluPine Energy is a leading renewable energy services company established in India by Actis Global. This transaction is particularly significant as it involves 14 operational SPVs across multiple states, with a mix of central and state off-takers. Through this deal, BluPine Energy successfully integrated these SPVs into a restricted group structure, strengthening their credit profile and reducing financing costs.
The team at Argus Partners advising BluPine Energy consisted of, Aseem Dhawan (Partner), Dharani Maddula and Umang Pathak (Associates).