British International Investment Commits $75 Million to Blueleaf Energy for India's Clean Energy Expansion

British International Investment (BII), the United Kingdom's development finance institution, has announced a $75 million financing facility to Blueleaf Energy, marking a significant step forward in accelerating India's renewable energy infrastructure development. The partnership, formalized at a signing ceremony in Singapore, directly supports India's ambitious target of achieving 500 gigawatts of non-fossil fuel power capacity by 2030.​

Utility-Scale Renewable Projects

The financing facility will enable Blueleaf Energy, a pan-Asian renewable energy platform owned by a Macquarie Asset Management-managed fund, to expand its renewable energy portfolio across India. The investment will support the development of nearly 2 gigawatts of installed clean energy capacity, encompassing utility-scale

solar, wind, and energy storage projects. Once operational, these assets are expected to generate more than 3.2 gigawatt-hours of clean energy annually, while helping to avoid approximately 3.1 million tonnes of carbon dioxide emissions each year.​

Strengthening UK-India Climate Collaboration

The agreement was signed at Eden Hall, the residence of the British High Commissioner in Singapore, witnessed by senior officials from both organizations, as well as representatives from the UK's Foreign, Commonwealth & Development Office and Macquarie Asset Management. British High Commissioner to Singapore, Nikesh Mehta, described the partnership as "an example of ambitious, scalable climate action" that will accelerate India's energy ambitions and lay the groundwork for clean energy growth across Asia.​

Srini Nagarajan, Managing Director and Head of Asia at BII, emphasized that the investment exemplifies the institution's approach to catalyzing markets and accelerating the clean energy transition in emerging economies. "As the UK's DFI, we're committed to accelerating the clean energy and climate resilient transition across South and Southeast Asia. Our focus is on investments that de-risk projects, demonstrate viability and encourage market participation to mobilize private capital into climate finance," Nagarajan stated.​

Deploying Catalytic Capital for India's Energy Transition

Shilpa Kumar, Managing Director and Head of India at BII, highlighted the significance of this investment in supporting India's renewable energy momentum. "Our partnership with Blueleaf Energy underscores BII's commitment to accelerating this transition by deploying catalytic capital to scale clean energy. By financing projects that combine scale, innovation, and local execution, we aim to play a leadership role in mobilising private capital into climate finance and fast-tracking India's decarbonisation journey," Kumar said.​

The financing structure utilizes mezzanine debt, a form of capital that Kumar noted is not widely available commercially in India, making this investment particularly relevant for the country's green transition. BII maintains a $2.2 billion portfolio in India, with climate finance representing a substantial portion of its investments.​​

Building Momentum for Regional Expansion

Raghuram Natarajan, Chief Executive Officer of Blueleaf Energy, welcomed the financing as a strong endorsement of the company's strategy and execution capabilities. "This financing represents a strong vote of confidence in Blueleaf's strategy, execution capabilities, and long-term commitment to India's energy transition. 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," Natarajan said.​

The partnership in India is expected to serve as a foundation for future collaboration across Southeast Asia, supporting Blueleaf Energy's target of delivering 10 gigawatts of installed renewable capacity across the region. Blueleaf Energy currently operates in Southeast Asia, India, Taiwan, and Japan, with a project pipeline that includes over 4.5 gigawatts of generation assets and nearly 3 gigawatt-hours of storage projects.​

Advancing India's 500 GW Clean Energy Goal

This investment arrives at a crucial time as India advances toward its target of achieving 500 gigawatts of non-fossil fuel power capacity by 2030, a commitment made under the country's Nationally Determined Contributions to the Paris Agreement. As of September 2025, India has already surpassed 256 gigawatts of installed renewable energy capacity, positioning the country as the fourth-largest producer of renewable energy globally.​

The BII-Blueleaf partnership represents the latest example of international collaboration supporting India's energy transition objectives. By combining strategic financing with technical expertise and a shared commitment to sustainable development, this agreement demonstrates how development finance institutions and private sector platforms can work together to mobilize climate finance and accelerate the deployment of renewable energy infrastructure at scale.