Independent power producer (IPP) Jakson Green, in partnership with Asian renewable energy platform Blueleaf Energy, has reached financial close for the 840MWp Bikaner solar portfolio in Rajasthan, western India.
The 280MWp and 560MWp ground-mounted solar projects, jointly owned by Blueleaf and Jakson, have reached financial close with Axis Bank. Feeding into the Bikaner-III Interstate Transmission System (ISTS), the projects form part of the 1GWp Rajasthan portfolio.
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The projects, backed by 25-year power purchase agreements (PPAs) with the Solar Energy Corporation of India (SECI) for the 280MWp project and NHPC Limited for the 560MWp project, are set to begin construction. They complement the portfolio’s 140MWp Bhawad solar project, already under construction and slated for commissioning later this year.
Raghuram Natarajan, CEO of Blueleaf Energy, said: “We are delighted to announce the Bikaner 280MWp solar and Bikaner 560MWp 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.”
New Delhi-headquartered Jakson Green manages a diverse portfolio across 40 locations including Europe and the Middle East and North Africa (MENA) region, with offices in Dubai and Riyadh. The company’s largest project has a capacity of 550MWp.
Recently, Jakson Green secured 1GWp in operation and maintenance (O&M) contracts across four solar projects in Rajasthan, Chhattisgarh and Tamil Nadu, bringing its total O&M portfolio to 5GWp.
Meanwhile, Blueleaf, owned by a fund managed by Macquarie Asset Management, operates across Southeast Asia, India, Taiwan and Japan, with a project pipeline exceeding 4.5GW of generation capacity and nearly 3GWh of energy storage.
