Blueleaf Energy gets BII backing for India and Southeast Asia expansion

The financing will help fund projects such as utility-scale solar, wind and energy storage.

Blueleaf Energy and British International Investment (BII) have entered into a $75m partnership to fuel the renewable energy platform’s expansion in India and Southeast Asia.

“The financing facility will support Blueleaf’s continued expansion and investment in renewable energy assets across India, contributing nearly 2 gigawatts (GW) of installed clean energy capacity to the nation,” BII said in a statement.

The projects will include utility-scale solar, wind and energy storage projects that could generate annually over 3.2 gigawatt-hours of clean energy, avoiding approximately 3.1 million tonnes of carbon emissions.

The partnership in India will also “act as a foundation for future collaboration in Southeast Asia, supporting Blueleaf Energy’s target of delivering 10 GW of installed capacity across Asia.”

“Our focus is on investments that de-risk projects, demonstrate viability and encourage market participation to mobilise 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.