Blueleaf Energy to Invest $400 Million in Solar Projects in Rajasthan
Blueleaf Energy, a renewable energy platform owned by a Macquarie Asset Management managed fund, has announced a $400 million investment in solar projects in India. The investment will be directed towards three solar projects in Rajasthan, with a total capacity of 1 gigawatt (GW). These projects are slated to be commissioned between 2025 and 2026 and will be funded through a mix of debt and equity.
India is experiencing a growing interest in renewable energy as the country sets its sights on increasing its non-fossil fuel capacity to 500 GW by 2030. The nation is currently at 162 GW, still falling short of its previous pledge to add 175 GW by 2022. In a similar development, Indian billionaire Sajjan Jindal’s JSW Energy acquired renewable energy platform O2 Power’s subsidiaries in a $1.47 billion deal in December.
Blueleaf Energy and Jakson Green have further ambitious plans for the future, with the goal of establishing more than 5 GW of renewable energy capacity in India by 2030. Blueleaf, based in Singapore, currently has more than 7 GW of solar, wind, and storage projects in its development pipeline, while Jakson Green is developing over 1 GW of renewable energy assets.
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