From pv magazine India
Jakson Green and Blueleaf Energy have reached financial close on 840 MW of solar projects in Bikaner, Rajasthan, completing funding for their 1 GW joint portfolio in India.
The two ground-mounted plants, rated at 280 MW and 560 MW, are owned through Jakson Ltd. and backed by Axis Bank. Both projects are now ready for construction.
The 280 MW project has a 25-year power purchase agreement (PPA) with the Solar Energy Corp. of India, while the 560 MW plant will supply power under a 25-year PPA with NHPC. They will join the 140 MW Bhawad project, already under construction and due for commissioning this year.
“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,” said Bikesh Ogra, vice chairman and global CEO of Jakson Green.
Raghuram Natarajan, CEO of Blueleaf Energy, said the financial close keeps the companies on track to complete progressive commissioning of the Rajasthan portfolio on schedule.
Pratyush Thakur, Blueleaf’s India country head, said the milestone moves the group closer to its goal of adding more than 5 GW of renewable energy capacity to the Indian grid by 2030.
Within the 1 GW portfolio, the Bikaner projects will generate enough electricity to power about 1.5 million households and avoid 34 million tons of CO₂ over 25 years. Connected to the Bikaner-III interstate transmission system, the projects are also expected to support local economic and environmental initiatives.
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