British International Investment (BII), the UK’s development finance institution and impact investor, has entered into a strategic partnership with Blueleaf Energy, a leading pan-Asian renewable energy company owned by a fund managed by Macquarie Asset Management. The collaboration aims to accelerate clean energy infrastructure growth in India and explore wider opportunities across Asia.
Under the agreement, BII will provide a $75 million financing facility to Blueleaf Energy to support the company’s renewable energy expansion across India. The investment is expected to enable the development of up to 2GW of installed clean energy capacity, including utility-scale solar, wind, and energy storage projects. These projects could collectively generate over 3.2GWh of clean power annually, helping to avoid around 3.1 million tonnes of CO₂ emissions each year.
The funding comes at a critical juncture as India advances toward its goal of achieving 500GW of non-fossil fuel power capacity by 2030. With over 220GW of renewable capacity already installed, the Indian government continues to promote large-scale investments in solar, wind, and battery storage to meet rising energy demands driven by rapid economic growth.
“India’s renewable energy momentum reflects both a national priority and a global opportunity,” said Shilpa Kumar, Managing Director and Head of India at BII. “Our partnership with Blueleaf Energy reinforces BII’s mission to accelerate the clean energy transition by deploying catalytic capital that drives scale and innovation. Through this investment, we aim to mobilize private sector participation in climate finance and contribute meaningfully to India’s decarbonisation pathway.”
“This investment represents a strong endorsement of Blueleaf’s long-term vision, execution capability, and commitment to India’s clean energy future,” added Raghuram Natarajan, Chief Executive Officer of Blueleaf Energy. “We are delighted to partner with BII, whose focus on sustainable infrastructure aligns closely with our ambition to advance renewable energy deployment in India and across Asia.”
Blueleaf Energy is a pan-Asian renewable energy platform engaged in the development, financing, ownership, and operation of onshore solar, wind, and storage assets. Serving corporate, industrial, and utility clients, the company provides competitive, sustainable energy solutions that enable its partners to meet their net-zero goals. With operations across India, Southeast Asia, Taiwan, and Japan, Blueleaf Energy manages a project pipeline of over 4.5GW of generation capacity and nearly 3GWh of storage assets.
British International Investment is the UK government’s development finance institution and a key global impact investor focused on driving sustainable economic growth. BII invests in businesses across emerging markets to promote job creation, innovation, and climate resilience. Between 2022 and 2026, at least 30% of BII’s new commitments will be directed toward climate finance, with up to $1 billion earmarked for India during this period.
BII’s portfolio includes over 1,600 investments across 66 countries, representing total net assets of £9.87 billion. India remains BII’s largest single-country portfolio, with $2.5 billion invested across more than 600 enterprises nationwide.
