Ajay Kumar Verma
BII is the United Kingdom’s development finance institution and impact investor, owned entirely by the UK government’s Foreign, Commonwealth and Development Office (FCDO). The firm invests in businesses in Africa, Asia, and the Caribbean.
The financing facility is expected to support Blueleaf’s continued expansion and investment in renewable energy assets across India, contributing to nearly 2GW of installed clean energy capacity, including solar, wind, and energy storage projects that annually generate over 3.5 GWh of clean energy.
“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, CEO of Blueleaf Energy.
He added, “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 India and beyond.”
An independent power producer, Blueleaf Energy operates in Southeast Asia, India, Taiwan, and Japan with a project pipeline that includes over 4.5 GWh of assets and nearly 3 GWh of storage projects.
According to the company, this partnership is expected to support India’s goal of achieving 500GW of non-fossil fuel-based power capacity by 2030.
The investment is also in line with BII’s pledge to commit up to $1 billion in climate finance in India. Between 2022-2026, at least 30% of BII’s total new commitments by value will be in climate finance.
To date, the company has investments in over 1,600 businesses across 66 countries, with a total net assets of £9.87 billion. India is also BII’s largest country-level investment portfolio with $2.5 billion invested across more than 600 businesses nationwide.
Edited by Suman Singh
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