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The BluRidgeRenewables
Project finance · renewable energy · India

Projects are financed against the PPA’s clock, not the lender’s.

Under PM KUSUM Component C in RESCO mode a plant has nine months from PPA signing to commission. Debt has to be appraised, sanctioned and drawn inside that window. We run SPV formation, director KYC, land title and the DPR in parallel with lender appraisal, so the document cycle is not what makes the project late.

PM KUSUM financial closure · 30 September 2026

Check which deadline binds you

What runs, and in what order

The stages are sequential because each one is a lender’s precondition for the next. A project that is late is almost always late at one of them, and it is more often a document stage than a construction one.

  1. 01

    Offtake

    The PPA or tariff order the debt is sized against. Nothing before it is bankable, and the commissioning clock starts here.

  2. 02

    SPV

    Formation, director KYC and the compliance record a credit team asks for by name. Begun before the PPA is signed, not after.

  3. 03

    Land

    Ownership or lease, title verification, and the encumbrance position. Sanctions stall here, and they stall late — after appraisal has already started.

  4. 04

    DPR

    The detailed project report the lender appraises: generation estimate, capital cost, and the cash flow the DSCR is read off.

  5. 05

    Appraisal

    The lender's own technical, legal and financial diligence, running against documents already assembled rather than waiting on them.

  6. 06

    Sanction

    Terms, security package and conditions precedent. The CP list is where a nine-month window is won or lost.

  7. 07

    Drawdown

    CPs satisfied, security perfected, first disbursement. Promoter contribution is usually in ahead of it.

Four technologies

Solar

Two markets that share a technology and almost no financing. Who buys the power decides which one you are in.

Solar

Wind

Debt is sized off the yield assessment, which makes the resource study a financing document before it is a technical one.

Wind

Green hydrogen

Offtake is the binding constraint and the Indian lender set is thin. The page says so rather than claiming coverage.

Green hydrogen

Compressed biogas

Feedstock security is read the way offtake is read elsewhere, and it is where appraisal stalls.

Compressed biogas
The conversion page

PM KUSUM, Components A and C

Component A covers decentralised plants of 500 kW to 2 MW selling to the DISCOM at a feed-in tariff the SERC sets. Component C covers feeder-level solarisation, where a RESCO developer finances and operates for 25 years under a PPA with the DISCOM, and individual pump solarisation. Those two are the whole of our scope under the scheme.

Send us the PPA date and the state