Solar plant development in India enhances solar Energy growth as recently 61.65 MW Power purchase Agreement has been signed by Blupine Energy with APL Apollo Group.
The agreement between these two companies is in line with both the companies to divert their investment budget into green Energy to promote sustainable energy and keep their carbon footprints at bay.
What are the Key Highlights of the Solar Plant Agreement?
This agreement between Blupine Energy and APL Apollo CGAT will be a great boost for renewable energy in India and for the future of their communities.
This is a new solar plant 61.65 MW in India who will gather solar energy energy. The launch of this project is adding the amount of energy consumed by cleaning in APL Apollo Group operations which are all renewable, which adds a valuable source of energy.
The PPA with Blupine Energy guarantees the provision of solar power for a long period of time, securing stable and continuous supply for APL Apollo Group. Long-term PPAs are an essential condition for investment in sizable renewable energy projects.
Installing solar power will help the APL Apollo Group decrease its dependency on non-renewable energy sources and bring down emissions of greenhouse gases; it will also enable the company to operate in a more sustainable manner.
The Benefits of Solar Energy in India
India is fast becoming a major renewable energy powerhouse, and solar power is frontrunning the other renewables in the country. India has set ambitious targets to ramp up renewable energy capacity to 450 GW by 2030.
The solar power is the most widespread source of energy technology for this transition, thanks to its widespread availability and falling costs.
Spending money on solar power generation supports the environment and the economy. Manufacturing, installation, and repairing solar panels provides employment for people to make ends meet.
Investing in solar will boost energy security, since countries like India will consume less imported fuels, which are in great demand and very costly.
Solar power is spurring technical progress. Innovations in the efficiency of solar panels, energy storage and grid injection are continually improving the affordability and reliability of solar energy.
Blupine Energy is a leading developer and manager of independent, carbon-free solutions in the renewable energy space. With a motto to reduce carbon emissions for sustainable development, the power producer has diversified its portfolio into wind, solar and hybrid energy solutions across geographies.
Commitment to Innovation and Efficiency
Blupine Energy has no separate organisational units, but rather, is involved in every stage of the energy chain, from planting the seeds of a project to harvesting the results, including the development, construction, commissioning, operation and maintenance.
It adopts the most advanced technologies and best practices, such as highly efficient photovoltaic cells, state-of-the-art inverters, and smart grid solutions to enhance energy generation and distribution.
This partnership with APL Apollo Group, a large industry player, allows Blupine Energy to expand the scale of its project. It is imperative to join hands with such companies to leverage collective resources as well as their expertise and achieve the common goal of sustaining the planet.
Leading the Way in Sustainability
APL Apollo Group, one of India’s top manufacturers of structural steel tubes, is passionately committed to sustainable practices. It is currently developing a solar plant in collaboration with Blupine Energy, a solar energy solutions firm, to become more environment friendly. It is also involved in green energy initiatives.
The firm will use solar energy at the plant so as to cut its energy costs and carbon output while simultaneously raising the sustainability of manufacturing processes.
APL Apollo’s investment in renewable energy (in addition to its investment in solar energy for its facilities in Malta) makes strategic sense because it also ties into the company’s Corporate Social Responsibility (CSR) strategy – its commitment to make a positive contribution to the environment and the societies in which it operates.
This PPA is part of the APL Apollo Group’s vision of a greener shipping value chain. The company believes that, as a leader in its sector, it should take on a proactive role as far as the adoption of green energy solutions is concerned.
The PPA between Blupine Energy Pvt Ltd and APL Apollo Group Ltd for the 61.65 MW solar plant is a reflection of the need of time and the future of India, which is nothing but green. This just highlights the path for the other industries across India to follow. It will be a long heartening journey for India’s sector in terms of energy transition.