BII & Blueleaf Energy Invest $75 Million in India for Energy Transition

Blueleaf Energy, a pan-Asian renewable energy platform and independent power producer (IPP) owned by a Asset Management managed fund, has partnered with British International Investment (BII), the UK’s development finance institution (DFI) and impact investor.

In a press release, Blueleaf Energy explained, "The parties entered an agreement to accelerate clean energy infrastructure development in India and signaled their intent to expand the collaboration into Southeast Asia."

Blueleaf said  that under the collaboration, BII which is the investor would provide a $75 million USD financing facility to Blueleaf Energy. It explained that the financing facility will support the company's continued expansion and investment in renewable energy assets across India. It would contribute to nearly 2GW of installed clean energy capacity to the nation. It will include utility-scale solar, wind and energy storage projects that could generate annually over 3.2GWh of clean energy.

This significant commitment arrives at a pivotal time, directly supporting Blueleaf Energy’s expansion in India as the nation races toward its goal of 500GW of non-fossil fuel power capacity by 2030. The partnership in India will act as a foundation for future collaboration in Southeast Asia, supporting Blueleaf Energy’s target of delivering 10GW of installed capacity across Asia.

About The Investment

“This financing represents a strong vote of confidence in Blueleaf’s strategy, execution capabilities, and long-term commitment to India’s energy transition,” said Raghuram Natarajan, Chief Executive Officer of Blueleaf Energy. “We are pleased to partner with BII, whose long-standing focus on sustainable infrastructure investment aligns closely with our own ambition to accelerate clean energy deployment in Asia.”

British High Commissioner to Singapore, Nik Mehta, said, “The UK has long been committed to supporting sustainable development in Asia, and this partnership between British International Investment and Blueleaf Energy is the latest example of that commitment in action. This investment will accelerate India’s renewable energy ambitions while strengthening the foundations for clean energy growth in other markets. It’s exactly the kind of ambitious, scalable climate action we need to achieve our shared climate goals.”

“As the UK’s DFI, we’re committed to accelerating the clean energy and climate resilient transition across South and South-East Asia. Our focus is on investments that de-risk projects, demonstrate viability and encourage market participation to mobilize private capital into climate finance. Our support to Blueleaf exemplifies this approach, reflecting our shared vision to advance energy transition in India and other emerging markets in Asia,” said Srini Nagarajan, Managing Director, Head of Asia at BII.