Renewable power producer BluPine Energy is eyeing to develop four GW of solar and wind power as well as hybrid assets complemented with battery energy storage (BES) in the next five years in India. 

The company, backed by global infrastructure investor Actis, will resort to both organic and inorganic routes to add renewable energy (RE) capacities. It has already acquired 400 MW of solar power capacity from the Atha Group and is in advanced talks to acquire around 400 MW more. 

Actis has earmarked USD 800 million to BluPine Energy. The company is already working on 650 MW of assets in Gujarat and 150 MW in Rajasthan. Besides, it secured a tender for 150 MW, which is a combination of wind, solar and battery storage, expected to come up in Karnataka.

BluPine Energy's capacity under implementation is around 1.35 GW, which also includes 300 MW and 100 MW projects it won from SJVN and Gujarat Urja Vikas Nigam (GUVNL).

The company will add capacities across commercial and industrial (C&I) as well as solar and wind power to reach the four GW target. Its C&I portfolio has capacity under works of 300-400 MW across Karnataka, Tamil Nadu, Maharashtra and Chhattisgarh, planned to scale up to 750-1,000 MW.