Singapore-based renewable energy platform Blueleaf Energy has signed an agreement with UK-based development finance institution and impact investor British International Investment (BII) to invest $75 million in India’s energy transition.

Blueleaf said it will receive the funding from BII to continue investing in and expanding its renewable energy assets in India. This initiative aims to contribute approximately 2 GW of installed renewable energy capacity in the country. It includes utility-scale solar, wind, and energy storage projects with a potential clean energy generation capacity of more than 3.2 GWh.

The company stated that the agreement with BII also underscores the partners’ intent to expand their collaboration into Southeast Asia, supporting Blueleaf’s plans to deliver 10 GW of installed capacity across Asia.

“Our focus is on investments that de-risk projects, demonstrate viability, and encourage market participation to mobilize private capital into climate finance,” said Srini Nagarajan, Managing Director, Head of Asia at BII.

Blueleaf Energy is a pan-Asian renewable energy platform that develops, finances, owns, and operates onshore solar, wind, and storage projects across Southeast Asia, India, Taiwan, and Japan. Its pipeline includes over 4.5 GW of generation assets and nearly 3 GWh of storage projects.

Recently, Blueleaf and Noida-based Jakson Green announced the financial close of 840 MW of ground-mounted solar projects in Bikaner, Rajasthan. This capacity comprises a 280 MW and a 560 MW project.

These projects are part of the $400 million 1 GW solar project portfolio in Rajasthan, for which Blueleaf and Jackson had partnered in January this year. This portfolio also includes the under-construction 140 MW solar project in Bhawad, scheduled for commissioning in 2025.

In May this year, BII invested ₹8.7 billion (~$100 million) in independent power producer ReNew Energy Global to fund the construction of a 4 GW TOPCon cell facility in Dholera, Gujarat. This transaction was BII’s first investment in solar manufacturing in India.