Blueleaf Energy (Blueleaf), a pan-Asian renewable energy platform owned by a Macquarie Asset Management managed fund, and Jakson Green, a new energy transition platform, have partnered for development of a 1 GW solar portfolio in Rajasthan, representing an investment of $400 million.
The two partners look to jointly develop and build gigawatt-scale green energy projects in India, leveraging their respective skills.
The inaugural 1 GW portfolio, funded through a combination of debt and equity, comprises three solar projects. These projects include intrastate transmission system (InSTS) and interstate transmission system (ISTS) projects and will benefit from 25-year power purchase agreements (PPAs) secured with the Solar Energy Corp. of India (SECI), NHPC, and Rajasthan Urja Vikas Nigam Ltd (RUVNL).
The three solar projects are set for commissioning by 2026. These are estimated to generate over 1,800 GWh of green energy a year, enough to sustainably power over 1.5 million Indian households. The projects will save over 22 million tons of CO₂ emissions over 25 years, the equivalent of removing over five million cars from the road.
Bikesh Ogra, MD and CEO of Jakson Green, said, “The sheer scale of [the Rajasthan solar project] is a testimony to our commitment on delivering world-class projects, while being the most trusted energy transition partner.”
Jakson Green executes renewable energy projects on EPC as well as IPP basis and also provides operations and maintenance support. It recently secured credit facilities of INR 2.96 billion from First Abu Dhabi Bank (Mumbai) and INR 600 million from HSBC to support its domestic and international EPC operations.
“Blueleaf’s development and commercial capabilities combined with Jakson Green’s project execution strength creates a strong partnership for delivering high-quality renewable energy projects, propelling us towards our shared goal of adding in excess of 5 GW of renewable energy capacity to the Indian grid by 2030, to accelerate the nation’s journey to net zero,” said Raghuram Natarajan, CEO of Blueleaf Energy.
“The Rajasthan solar portfolio marks a significant milestone for us. This is our second large-scale renewable energy initiative in just the past six months in India, the first being the hybrid wind and solar, 200 MW Pachora hybrid power project, which is due to be commissioned later this year. With the solid partnership of Jakson Green, we look forward to progressively commissioning these new solar projects by 2026,” said Pratyush Thakur, country head of Blueleaf Energy in India.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.