Jakson Green inks 400MW PPA with India’s NHCP

Solar panels deployed on sandy ground in the Indian state of Rajasthan
A Tata Power project in the Indian state of Rajasthan. Credit: Tata Power

Dubai-headquartered renewable energy developer Jakson Green has signed a power purchase agreement (PPA) with the state-run utility National Hydroelectric Power Corporation (NHPC) for the output of a 400MW solar PV project in India.

The PPA was secured at a tariff of INR2.53 per kWh (US$0.03) in a competitive auction held by NHPC. The project itself is slated to begin operations within 24 months of the PPA signing.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Located in the state of Rajasthan, the project brings Jakson Green’s independent power producer (IPP) project portfolio in India to 1GW, the company said. It aims to have 7.5GW of renewable energy assets by 2027 and 18GW by 2030.

NHPC is one of the largest energy utilities in the country. In June 2023, it announced a plan to develop 1GW of ground-mounted or floating solar PV projects in the Indian state of Odisha alongside the Green Energy Development Corporation of Odisha Ltd (GEDCOL). Odisha has one of the lowest solar generation capacities in India, with just 534MW of commissioned capacity and a 93MW pipeline as of summer last year. This is in comparison with states like Rajasthan and Gujarat which had a combined capacity of over 20GW last year.

The utility also sold a 300MW PV project to Singapore-based energy company Sembcorp in December 2023.  

2024 has so far been a year of recovery for the Indian solar sector following underperformance in 2022 and 2023.  Data from Indian research firm Mercom Capital showed that the sector saw a 400% increase in deployments in Q1 2024 compared with the same period in 2023. Over 10GW of new solar capacity came online between January and the end of March, over 9.7GW of which was in large-scale projects.

Unsurprisingly, Rajasthan was the dominant state for new capacity, representing 38% of the total installations. More notably, the uptick was largely due to the government’s decision to suspend the Approved List of Models and Manufacturers (ALMM) programme in March 2023, which limited the manufacturers and solar modules allowed access to the Indian market. The imposition of the ALMM had combined with the government’s restrictive import tariffs to create a supply shortage in India over 2022-23.

26 November 2024
Málaga, Spain
Understanding PV module supply to the European market in 2025. PV ModuleTech Europe 2024 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2026 and beyond.

Read Next

July 18, 2024
The financing will be offered to two banks, as they will provide loans to developers and end-users to install rooftop solar systems.
July 18, 2024
Winning bids as low as INR3.41/kWh have been registered in a tender for solar PV paired with battery storage hosted by the SECI.
July 17, 2024
From January to May this year, 251 new solar projects became operational in the US, with a combined capacity of 10,669MW.
July 17, 2024
US utility PacifiCorp and rPlus Energies signed a power purchase agreement (PPA) for the Green River Energy Center project in 2022.
July 16, 2024
Vietnam has planned to buy excess electricity generated by residential and commercial rooftop solar modules.
July 16, 2024
US-based software provider Aurora Solar has acquired solar design tool Lyra to grow its business in residential plan set services and automation.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA