British International Investment (BII) has announced the partial syndication of its $75 million mezzanine debt investment in Blueleaf Energy with the Emerging Africa & Asia Infrastructure Fund (EAAIF). Under the agreement, EAAIF will be providing 50 per cent of the total debt financing, with BII continuing to provide the remaining $37.5 million.
The funding will help Blueleaf Energy to develop 850 MW of new renewable energy capacity in India. The projects include utility-scale solar, wind, and energy storage systems. Blueleaf Energy is targeting a renewable energy portfolio of around 5 GW in India by 2030. The transaction also marks EAAIF’s third investment in India’s renewable energy sector.