New Delhi, Bluepine Energy on Monday said it has signed a power purchase agreement (PPA) with APL Apollo Building Products, a wholly owned subsidiary of APL Apollo Tubes, for a 61.65 MW solar plant in Chhattisgarh.

The new solar plant is expected to generate about 94.5 million units (MU) of electricity annually, which will offset more than 87,000 tons of CO2 emissions each year, Bluepine Energy said in a statement.

"Bluepine Energy has signed a PPA with APL Apollo Group for a 61.65 MW solar plant. The solar plant will help reduce operating costs and increase energy efficiency for APL Apollo Building Products," the statement said.

Bluepine Energy is a leading renewable energy services company founded in India by Actis, a global investor and world leader in financing and building sustainable infrastructure companies.