Blueleaf Energy, a leading pan-Asian renewable energy platform owned by a Macquarie Asset Management managed fund, and Jakson Green, a green energy transition platform, have announced the successful 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 Limited. 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 PPAs with the Solar Energy Corporation of India Limited (SECI – 280 MWp) and NHPC Limited (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.
“We are delighted to announce the Bikaner 280 MWp 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.” Raghuram Natarajan, CEO of Blueleaf Energy.
“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 achievement demonstrates our ability to execute projects and reinforces our position as a trusted player in energy transition.” Bikesh Ogra, MD and CEO of 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.” Pratyush Thakur, Country Head of Blueleaf Energy in India.
“It is a milestone achieved by the team, and this marks a substantial step towards execution of the project on time.” Krishnan Rajagopalan, Head – IPP for Jakson Green.
Within the 1 GWp Rajasthan Portfolio, the Bikaner projects alone will produce enough electricity annually to power the equivalent of over 1.5 million Indian households. Furthermore, the environmental impact of the Bikaner projects is projected to save over 34 million tons of CO₂ over a 25-year period, advancing Blueleaf Energy and Jakson Green’s commitment to India’s net-zero targets. Feeding into the Bikaner-III Interstate Transmission System (ISTS), the projects are expected to also drive local sustainable development and environmental initiatives benefiting the surrounding communities.
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