Jakson Green Ltd, a green energy transition platform, and Blueleaf Energy, a pan-Asian renewable energy platform owned by a Macquarie Asset Management managed fund, today announced the successful financial close of their 840 MWp Bikaner solar projects in the Indian state of Rajasthan.
The 280 MWp and 560 MWp ground-mounted solar plants are part of the 1 GWp Rajasthan solar portfolio, which is jointly owned by Blueleaf Energy and Jakson Green through its parent company Jakson Ltd. This financial close, secured with Axis Bank, India, marks the completion of funding for the entirety of the partners’ landmark portfolio.
The 280 MWp benefits from a 25-year power purchase agreement (PPA) with the Solar Energy Corp. of India, whereas the 560 MWp will supply power under a 25-year PPA with NHPC. With financial close, both the project are now ready to enter construction. They will join the portfolio’s Bhawad 140 MWp solar project, which is already under construction and scheduled for commissioning this year.
Bikesh Ogra, vice chairman & global CEO of Jakson Green, said, “Securing financial closure for the Bikaner Solar Projects is a testament to both our ability to deliver on our unwavering commitment to advance India’s energy transition and the strength of our partnership with Blueleaf Energy. This demonstrates our ability to execute projects and reinforces our position as a trusted player in energy transition.”
Raghuram Natarajan, CEO of Blueleaf Energy, added, “The financial close on 280 MWp and 560 MWp Bikaner solar projects puts us firmly on track to complete progressive commissioning of the solar portfolio in Rajasthan on schedule with Jakson Green.”
“Completing the funding of our Rajasthan Solar Portfolio brings us a significant step closer to our goal of adding over 5 GW of renewable energy capacity to the Indian grid by 2030,” added Pratyush Thakur, India country head for Blueleaf Energy.
Krishnan Rajagopalan, Head – IPP for Jakson Green, said this milestone achieved by the team marks a substantial step towards execution of the project on time.
Within the 1 GWp Rajasthan portfolio, the Bikaner projects alone will produce enough electricity annually to power the equivalent of over 1.5 million Indian households. These will help save over 34 million tons of CO2 over a 25-year period. Feeding into the Bikaner-III Interstate Transmission System (ISTS), the projects are expected to also drive local sustainable development and environmental initiatives benefiting the surrounding communities.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.