Jakson Green and Blueleaf Energy Partner for 1 GW Solar Project in Rajasthan

Jakson Green and Blueleaf Energy will develop 1 GW solar projects in Rajasthan with an investment of $400 mn.
January 2025, New Delhi: Indian green energy firm, Jakson Green, signed a deal with Singapore's Blueleaf Energy to establish 1 GW of solar projects in Rajasthan. The investment worth $ 400 million (Rs 3,400 crore) is part of India's transition to clean energy, which can speed up the use of renewable sources in power.

Jakson Green, the fresh energy transition platform, and Blueleaf Energy-the pan-Asian developer of renewable energy-have reportedly signed a co-development agreement relating to large scale green energy ventures. Their works will be in complete alignment to the vision held by the government of India wherein it is constantly augmenting renewable energy capacities. It is consequently reducing its carbon emissions.
Details of the Projects and Investment
This portfolio consists of 1 GW of solar under three projects, financed either by debt and equity or a combination of both. Each one of these is slated to be grid-connected on either the InSTA Transmission System or the Inter-State Transmission System.

PPAs for these projects were competitively bid by Rajasthan Urja Vikas Nigam Limited, Solar Energy Corporation of India, and National Hydroelectric Power Corporation. The projects are to be progressively commissioned between 2025 and 2026.

Renewable Energy and Sustainability Impact
The amount of renewable energy that will be generated from full operation of the Rajasthan portfolio amounts to more than 1,800 GWh annually. This is capable of powering over 1.5 million Indian households. In turn, projects are expected to avoid more than 22 million tons of CO2 or equivalent over 25 years of operation-the amount removed from the air by over five million cars.

This project will continue to create employment in the construction stage and in the operating stages also. The project would further support employment opportunities and develop skills related to renewable energy for the locality.
Renewable Energy Expansion Plans for the Future
Jakson Green and Blueleaf Energy have now decided to add more than 5 GW of renewable energy capacity to the Indian power grid by 2030. And now, with Jakson Green and Blueleaf Energy, Blueleaf Energy is in a better footing to leverage the capabilities in development and financing of renewable energy, combined with the executing capabilities of Jakson Green.

This is part of a much larger effort to hasten the speed of energy transition in India-away from fossil fuel dependence with improved front-runner status of the country in the utility of renewable energy.

Financial Muscle and Growth Ambitions
Two big ones have caught momentum for Jakson Green under bank credit facilities: Rs 2.96 billion from First Abu Dhabi Bank, Mumbai and Rs 600 million from HSBC. For financing EPC operations in India as well as abroad.

Apart from that, Jakson Green has also appointed Ernst & Young (EY) as the sole sell-side investment banker for the transaction. Thus it also cannot be said that the company is not devoted toward systematic financial planning and strategic evolution.

Future scope of solar in India
With such huge solar projects, much would play in the sustainability plan of India while considering upsurge in the demand of renewable energy along with the net-zero emission targets set for the country by 2070. Jakson Green and Blueleaf Energy partnership would be one huge step towards the accomplishment of renewable energy targets with economic and environmental advantages.
Souce:Jakson Green, Blueleaf Energy