Blueleaf Energy India Plans to Receive $75 Million from UK Development Finance Body
British International Investment, the UK's Development Finance Institution, announced on Wednesday that it would invest 75 million dollars to help Blueleaf Energy expand in India, a renewable energy platform owned by Macquarie Asset Management.
The funds are intended to speed up the deployment of clean energy in Asia.
The investment is to be made into Blueleaf’s utility-scale projects for solar, wind and energy storage in India. It will generate more than 3.2 gigawatt hours (GWh) per year of clean energy.
The investment is in line with BII’s broader strategy of accelerating the energy transition for emerging markets.
The company has invested more than $95,000 in Southeast Asia's climate-focused platforms, including in early-stage clean-energy businesses and utility-scale renewable assets.
BII and two partners set up a joint venture for renewable energy in Southeast Asia earlier this year. BII supports various entities in India that are focused on clean energy, such as Mahindra & Mahindra’s EV unit.
India, which is the fourth largest renewable energy producer in the world, has set an ambitious target of 500 GW non-fossil energy capacity by 2030. The country had already exceeded 256 GW installed energy capacity at the end of September.
Singapore-headquartered Blueleaf Energy operates in Southeast Asia, India, Taiwan, and Japan, with a project pipeline that includes more than 4.5 GW of energy generation assets and nearly 3 GWh of storage projects.
(source: Reuters)
