Jakson Green and Blueleaf Energy enter $400m solar deal in India

This will power 1.5 million homes.

Jakson Green and Blueleaf Energy have signed a $400m partnership that will focus on developing gigawatt-scale green energy projects in India.

In a joint statement, the companies said they will develop a 1-gigawatt solar portfolio in Rajasthan, comprising three projects. These include Intra State Transmission System and Inter State Transmission System projects with 25-year power purchase agreements secured via competitive bidding from RUVNL, SECI, and NHPC.

The three projects will be funded through a combination of debt and equity, and are expected to be progressively commissioned in 2025 to 2026.

These facilities are expected to generate 1,800 gigawatt-hours of green energy that can energise over 1.5 million households. It is projected to eliminate 22 million tonnes of carbon emissions over 25 years, equivalent to removing over five million cars from the road.

Pratyush Thakur, country head of Blueleaf Energy in India, said this is the company’s second large-scale renewable energy initiative in the past six months in India, the first being the 200 megawatt Pachora Hybrid Power Project which is due to be commissioned later this year.

Meanwhile, Jakson Green also announced that it has secured credit facilities of INR 2.96b from First Abu Dhabi Bank (Mumbai) and INR 600m from HSBC. These will support its domestic and international EPC operations.