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Blueleaf Energy, enters India’s solar energy market

Blueleaf Energy, enters India’s solar energy market

  • GIG portfolio company, Blue Leaf Energy Pte Ltd (Blueleaf Energy)*, acquires a majority stake in Vibrant Energy Holdings Pte Ltd (Vibrant Energy) from ATN International, Inc. (ATN).
  • Vibrant Energy provides market-leading renewable energy solutions to Commercial and Industrial (C&I) customers across India.
  • The transaction represents Blueleaf Energy’s entry into the Indian market.

GIG portfolio company, Blue Leaf Energy Pte Ltd (Blueleaf Energy), has acquired a majority stake in Vibrant Energy Holdings Pte Ltd (Vibrant Energy) from ATN International, Inc (ATN).

Blueleaf Energy’s mission is to provide safe, high quality, ethical solar energy projects to deliver a greener energy mix and lower power bills. It specialises in the development, finance, construction and operation of solar PV projects for both C&I rooftop and utility scale systems, across the Asia Pacific region. Blueleaf Energy also delivers cutting-edge hybrid projects, combining solar power with wind energy and battery storage.

Over its 20-year history, the platform has developed, built and operated almost 2 GW of solar capacity across the globe, including over 500 MW in the Asia Pacific region. Its activities are focused in Taiwan, South Korea, India, the Philippines, Vietnam and Malaysia, and it’s also active across other markets in South East Asia. 

Vibrant Energy develops high-efficiency solar power plants to help commercial and industrial clients switch to renewable power and reduce their energy costs. The platform currently owns 66 MW of operational solar PV projects, and is actively developing a pipeline of over 400 MW across India.

By combining Blueleaf Energy’s global customer base and technical expertise with Vibrant Energy’s deep local knowledge and strong project pipeline, this acquisition offers C&I customers an exciting opportunity to take control of their energy needs and achieve their decarbonisation objectives.

The acquisition also marks Blueleaf Energy’s entry into the Indian market, which is now the 3rd largest solar market in the world. From its current base of circa 35 GW, India is targeting the installation of 100 GW of solar capacity by 2022, and 300 GW by 2030. The country’s fast-growing solar C&I market will be a major contributor to this.

“Energy systems around the world are being reshaped as an increasing number of corporates take sustainability into their own hands. It’s no different in India and I’m delighted to see Blueleaf Energy expanding into this dynamic market. Through our platforms and partnerships, GIG now has a global solar development pipeline of over 20 GW, helping corporates across 12 countries accelerate their green transition.”

Mark Dooley 
Global Head of GIG