Blueleaf Energy, a renewable energy company owned by a Macquarie Asset Management fund, has acquired a 40 MW operational onshore wind project in Belgaum, Karnataka.

Blueleaf Energy India Investments acquired a 100% equity stake in Sanchore Renewable from Belgium-based Virya Energy NV. Sanchore Renewable owns the wind project.

The transaction marks Blueleaf Energy’s first acquisition of a fully operational power asset in India. The company already has a 1.5 GW greenfield renewable energy portfolio in the country.

Blueleaf has a generational pipeline of over 13 GW and a storage pipeline of 7 GWh. It has 850 MW of projects under construction and over 450 MW in operation.

UK’s development finance institution and impact investor, British International Investment (BII), recently announced the partial syndication of its mezzanine debt investment in Blueleaf Energy. The financing will support Blueleaf Energy’s development of 850 MW of greenfield renewable energy capacity in India.

In March 2026, Blueleaf Energy commissioned its 300 MW Pachora wind-solar hybrid power project in Madhya Pradesh. The project is positioned as a merchant power model with an annual output of nearly 600 million units.

According to Mercom Capital Group’s 1H and Q2 2026 Solar Funding and M&A Report, solar corporate merger and acquisition activity strengthened during the period, increasing to 57 transactions in 1H 2026 from 50 transactions in the corresponding period of 2025.

India added 1.3 GW of wind power capacity in the second quarter of calendar year 2026, down 15% from the previous quarter and 18% from the same period last year, according to Mercom India Research. As of June 2026, India’s cumulative installed wind capacity reached 57.4 GW, up 2.4% from 56 GW at the end of March 2026.

Karnataka was also among the top four states leading wind capacity additions, with the four states accounting for 86.7% of total installations during the quarter.