Jakson Green Ltd, a green energy transition platform, and Blueleaf Energy, a leading pan-Asian renewable energy platform owned by a Macquarie Asset Management managed fund, have announced the financial close of their 840 MWp Bikaner solar projects in Rajasthan, India.
The Bikaner 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 Bikaner projects, which hold 25-year power purchase agreements with the Solar Energy Corp. of India Ltd (SECI – 280 MWp) and NHPC Ltd (560 MWp), 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. The Bikaner projects alone will produce enough electricity annually to power the equivalent of over 1.5 million Indian households and is projected to save over 34 million t of carbon dioxide over a 25-year period.
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: “We are delighted to announce the Bikaner 280 MWp solar and Bikaner 560 MWp solar projects’ financial close. Clearing this milestone 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,” commented Pratyush Thakur, India Country Head for Blueleaf Energy.
Krishnan Rajagopalan, Head - IPP for Jakson Green, concluded: “It is a milestone achieved by the team and this marks a substantial step towards execution of the project on time.”
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