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Blueleaf Energy secures financing for 200 MW hybrid project

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Blueleaf Energy has secured financing for its 200-MW wind and solar hybrid power project in Madhya Pradesh. Axis Bank will provide around USD 170 million to support the Pachora Hybrid project, Blueleaf’s first utility-scale venture in India, set to commence commercial operations in 2025.

The project, located at the Pachora Inter State Transmission System (ISTS) substation, will generate over 600 GWh annually, powering approximately 110,000 households. Blueleaf has secured buyers for International Renewable Energy Certificates (I-RECs) and a power purchase agreement (PPA) for the electricity produced.

Pratyush Thakur, Blueleaf Energy India Country Head, announced that I-RECs will be supplied to a major international tech company, while power will be sold to a leading Indian power trader.

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