BluPine Energy, a leading renewable energy services company headed by Neerav Nanavaty, has secured a significant financial boost for its solar ambitions. Tata Capital, a prominent financial services company within the Tata Group, has provided Rs 239 crore in funding to support BluPine’s ambitious solar power project in Chhattisgarh. This project, boasting a capacity of 75 megawatts, is poised to make a substantial contribution to India’s clean energy landscape.
The project is anticipated to generate a substantial 117 million units of energy annually, a feat that will translate into a significant reduction of carbon emissions. BluPine estimates that the project will offset over 107,000 tonnes of CO2 emissions, underscoring its commitment to a greener future.
Neerav Nanavaty, the driving force behind BluPine Energy, has a distinguished career spanning over two decades in the energy sector. He has held leadership positions across North America and India, working with prominent green energy companies worldwide. Nanavaty’s expertise in renewables and energy services, coupled with his passion for driving India’s energy transition, makes him a key figure in the nation’s renewable energy landscape.
His impressive resume includes a stint as CEO of ENGIE India and various leadership roles within ENGIE North America Inc., where he spent over 13 years. Prior to his leadership at BluPine, Nanavaty was at the helm of ENGIE India for nearly two years. His commitment to green energy is further reflected in his extensive experience working with internationally renowned green energy companies.
Nanavaty’s educational background includes a degree in Electronics Engineering from NIT, Karnataka, and an MBA in Finance/Strategy from Duke University, USA. He began his professional journey in 1993 as a Consultant at Citicorp.
BluPine Energy itself was established in India by Actis, a global investor and a world leader in funding and building sustainable infrastructure companies. This strategic partnership underscores the company’s dedication to creating sustainable infrastructure solutions. The company’s mission is to contribute to a cleaner, more sustainable energy future in India.
