Blueleaf Energy has acquired a 100% equity stake in Sanchore Renewable Private Limited from Virya Energy NV, adding a 40 MW operating wind power asset in Karnataka's Belagavi district. The transaction marks Blueleaf Energy's first purchase of an operating renewable energy asset in India and expands its strategy beyond greenfield project development.
The acquired wind farm has been generating clean electricity for about eight years and is backed by a long-term power purchase agreement with Bangalore Electricity Supply Company Limited (BESCOM). The combination of an operating asset and an established offtake arrangement gives Blueleaf an asset with an existing generation history and contracted power sales framework.
The transaction is notable because Blueleaf had previously emphasized developing new renewable projects in India. The company said the acquisition represents a move toward targeted mergers and acquisitions alongside its established greenfield development activities. Pratyush Thakur, Country Head, India, Blueleaf Energy, described the deal as an important milestone in the company's expansion of its Indian clean energy platform.
Blueleaf's broader India portfolio includes wind, solar and battery energy storage projects at different stages of development, construction and operation. Its current India portfolio is listed at more than 9.5 GWp of renewable and storage projects, while the company has separately outlined a long-term strategy to build a 5 GW renewable energy platform in India by 2030 through a combination of greenfield development and acquisitions.
The company already has operating experience in India through projects such as the Pachora Hybrid Power Project in Madhya Pradesh. Blueleaf and Jakson Green commissioned the 300 MWp project in March 2026, while Blueleaf's earlier project financing announcement described its Pachora development as a 200 MW wind-solar hybrid project with grid access at the Pachora ISTS substation. The differing capacity references reflect the project's development and subsequent commissioned configuration.
The Karnataka transaction was supported by Talwar Thakore & Associates for legal advice and EY for finance and tax structuring, while PwC India acted as the sell-side advisor to Virya Energy. The transaction value has not been publicly disclosed. The acquisition gives Blueleaf an operating wind asset while it continues to develop a larger pipeline of wind, solar and storage projects across India.