Jakson Green, Blueleaf to Develop 1 GW Solar Projects In Rajasthan

31 Jan 2025 CW Team

Homegrown Jakson Green and Singapore-based Blueleaf Energy announced their collaboration to develop one GW solar projects in Rajasthan at an investment Rs 340 billion. The partnership will focus on jointly developing and building gigawatt-scale green energy projects in India, Jakson Green, a leading new energy transition platform, said in a statement. The inaugural 1 GW portfolio, funded through a combination of debt and equity, comprises three solar projects, it added. These projects include Intra State Transmission System (InSTS) and Inter State Transmission System (ISTS) projects with 25-year power purchase agreements (PPAs) secured via competitive bidding from RUVNL, SECI, and NHPC. The three solar projects are expected to be progressively commissioned in 2025-2026. Blueleaf Energy is a leading pan-Asian Renewable energy platform that develops, finances, owns and operates renewables and storage assets. Projected to generate over 1,800 GWh of green energy a year, enough to sustainably power over 1.5 million Indian households, the Rajasthan Solar Portfolio will save over 22 million tons of CO2 emissions over 25 years, the equivalent of removing over five million cars from the road, the statement added. The initiative will also create valuable job opportunities during both construction and operation phases, demonstrating the strong commitment of both JGPL and Blueleaf to sustainable development. Jakson Green engaged Ernst & Young (EY) as the exclusive sell side investment banker for the entire transaction. Jakson Green also announced that it has strengthened its financial foundation, securing credit facilities of Rs 2.96 billion from First Abu Dhabi Bank (Mumbai) and Rs 600 million from HSBC. These funds will support its domestic and international Engineering, Procurement, and Construction (EPC) operations.

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