Blueleaf secures funding for 200 MW wind-solar hybrid project in India

The Pachora Hybrid Power Project will produce over 600 gigawatt hours (GWh) of energy annually.

Blueleaf Energy, a pan-Asian renewable energy platform owned by a Macquarie Asset Management managed fund, has announced the financial close of its 200-megawatt (MW) wind-solar hybrid power plant in Madhya Pradesh, India.

The project, Pachora Hybrid Power Project, has secured approximately $170m in project financing from Axis Bank, one of India’s leading private sector banks. This project has also secured grid access at the Pachora Inter State Transmission System (ISTS) substation.

Blueleaf Energy will build, own, and operate the Pachora Hybrid Power Project, which is expected to achieve commercial operation by 2025. The project aims to produce over 600 gigawatt hours (GWh) of energy annually, supplying clean, renewable energy to approximately 110,000 Indian households.

“The project’s offtake has been structured innovatively, unbundling the environmental and energy components,” said Pratyush Thakur, country head of Blueleaf Energy India.

“Environmental attributes, in the form of International Renewable Energy Certificates (I-RECs), will be supplied to a large international tech company, while power without attributes will be delivered to a leading Indian power trader,” he added.

Blueleaf Energy has a target to develop and build over 5 GW of renewable energy projects in the country by 2030, contributing to India’s goal of achieving 500 GW of renewable energy production capacity by 2030.

Also Read

What is the future of gas in Australia's energy market?

Vietnam’s weak grid a barrier to direct power purchase policy

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit