NEW DELHI, Oct. 29 -- British International Investment (BII) has committed a $75 million financing facility to Macquarie-owned Blueleaf Energy to help expand its renewable energy capacity in India.

The agreement, signed on Wednesday, includes a mix of equity, debt, and mezzanine financing, the two firms said in a joint statement.

The facility will support Blueleaf's continued expansion and investment in renewable energy assets across India, contributing nearly 2 gigawatts (GW) of installed clean energy capacity. The projects, spanning utility-scale solar, wind and energy storage, are expected to help avoid around 3.1 million tonnes of carbon dioxide emissions.

"India's renewable energy ambition is driving a significant transformation a...