Blueleaf Energy, a pan-Asian renewable energy platform under Macquarie Asset Management, has commissioned its flagship 300-megawatt-peak Pachora Hybrid Power Project in Madhya Pradesh, India.

The utility-scale wind and solar project, valued at 1,900 crores ( US$230 million ), sets a new benchmark for merchant projects in India with its innovative commercialization structure.

Its nearly 600 million units of clean electricity per annum – enough to power over 550,000 households – will be sold on the Indian power market. This structure is unique for a project of its size. The sale of energy on the market is managed through a 15-year power purchase agreement ( PPA ) with a leading Indian power trader. 

The project also provides environmental attributes to a large international technology company under a separate 15-year international renewable energy credits ( I-RECs ) contract, significantly enhancing bankability.

The project comprises 35 wind turbines, a multi-site solar farm, and a dedicated pooling substation. It spans 40 sites across 347 hectares of land and offsets approximately 550 kilotonnes of carbon dioxide annually, an impact equivalent to removing nearly 130,000 cars from the road.

System efficiency 

The Pachora Hybrid Power Project, by delivering power day and night, optimizes system efficiency and reduces the need for grid expansion.  “By bringing this flagship project online, we are not only supporting India’s 500-gigawatt renewable target but also proving that innovative, cost-effective hybrid models are the key to a decarbonized and resilient grid,” says Blueleaf Energy chief executive officer Raghuram Natarajan. 

Pratyush Thakur, the firm’s country head for India, adds: “The commissioning of the Pachora Hybrid Power Project is more than a technical milestone; it is a commitment to long-term prosperity in our host communities. Through our Blueleaf CARES programme, we are already delivering on this promise in Madhya Pradesh from environmental stewardship to health and skilling initiatives.

“As we expand, we are bringing these same principles of rapport and trust-building to our developments in Rajasthan, ensuring our projects grow in harmony with local aspirations. We don’t just generate power; we invest in the social fabric that sustains it.”

Despite significant weather events and global supply chain pressures in 2025, the project commenced operations last December. It is now operating at full capacity, with Blueleaf exploring further expansion of the plant and additional project opportunities in the area.

The company is also progressively commissioning solar farms within its Rajasthan solar portfolio, which achieved financial close last October and remains on track for full delivery later this year. ​