Macquarie Asset owned Blueleaf to invest $400 mln in Jakson Green's India solar assets
The investment will be made in three solar projects, which are expected to be commissioned in 2025-2026 and will be funded through a combination of debt and equity, the companies said.
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There is a growing interest in renewable energy assets in India as the country aims to increase its non-fossil fuel capacity to 500 GW by 2030 from about 162 GW at present and is still short of its much-publicised pledge to add 175 GW by 2022.
In December, Indian billionaire Sajjan Jindal led JSW Energy (JSWE.NS), opens new tab acquired renewable energy platform O2 Power's subsidiaries in a deal worth $1.47 billion.
Blueleaf Energy and Jakson Green are also targeting setting up more than 5 GW of renewable capacity in India by 2030, they said.
Singapore-headquartered Blueleaf Energy has more than 7 GW of solar, wind and storage projects in the development pipeline, while Jakson Green has more than 1 GW of renewable energy assets under development.
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