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Blueleaf Energy and Jakson Green have announced a strategic partnership to develop a 1-gigawatt (GW) solar portfolio in Rajasthan, representing an investment of USD 400 million. Blueleaf Energy, a pan-Asian renewable energy platform owned by a Macquarie Asset Management-managed fund, and Jakson Green, a leading new energy transition company, will collaborate on developing and building large-scale green energy projects in India. The 1 GW portfolio consists of three solar projects funded through a combination of debt and equity. These projects include both Intra State Transmission System (InSTS) and Inter-State Transmission System (ISTS) projects, with 25-year power purchase agreements (PPAs) secured through competitive bidding with Rajasthan Urja Vikas Nigam Limited (RUVNL), Solar Energy Corporation of India (SECI), and National Hydroelectric Power Corporation (NHPC). The projects will be developed under a Build-Own-Operate (BOO) model and are expected to be progressively commissioned between 2025 and 2026. Once fully operational, the solar portfolio is projected to generate over 1,800 gigawatt-hours (GWh) of green energy annually, enough to provide sustainable electricity to more than 1.5 million Indian households. Over 25 years, these projects will help reduce over 22 million tons of carbon dioxide emissions, which is equivalent to removing over five million cars from the road. The initiative will also generate employment opportunities during both the construction and operational phases, reflecting the commitment of both companies to sustainable development and job creation. Expressing enthusiasm about the partnership, Raghuram Natarajan, CEO of Blueleaf Energy, stated that combining Blueleaf’s development and commercial expertise with Jakson Green’s project execution capabilities will create a strong foundation for high-quality renewable energy projects. He emphasized the shared goal of adding more than 5 GW of renewable energy capacity to India’s grid by 2030, supporting the country’s journey towards net-zero emissions. Bikesh Ogra, Managing Director and CEO of Jakson Green highlighted that this partnership further strengthens their position as a global energy transition player. He noted that the scale of this project demonstrates Jakson Green’s commitment to delivering world-class renewable energy projects while building trust as a reliable energy transition partner. Pratyush Thakur, Country Head of Blueleaf Energy in India, described the Rajasthan Solar Portfolio as a significant milestone for the company. He also pointed out that this is Blueleaf’s second large-scale renewable energy initiative in India in just six months, following the 200 MW Pachora Hybrid Power Project, which integrates wind and solar energy and is set to be commissioned later this year. With the strong support of Jakson Green, he expressed confidence in successfully commissioning the new solar projects by 2026 and making meaningful contributions to India’s decarbonization efforts. This collaboration marks a major step forward in India’s renewable energy expansion, reinforcing the country’s role as a leader in green energy development. |
