Jakson Green is close to raise a $476.4 million green fund, which will help the company get a massive boost in its renewable energy capacity, said Joint Director Krishnan Kannan.
Currently, the company has an installed capacity of around 250 megawatt, and will add 1 gigawatt (GW) by early 2026.
“We are looking with a strategic partner to bring in the investment. For this 1 GW, the investment will be around 40 billion rupees in a mix of 75 per cent debt and 25 per cent equity,” Kannan said during the renewable energy India expo in Delhi, reported Reuters.
Advertisement
The company is in advanced level talks with several green energy fund and expects to close the fundraise by November.
Jakson Green is a part of Jakson Group, which also has a subsidiary named Jakson Solar, which manufactures solar modules and solar cells.
Earlier, the company secured a contract from NTPC to build a plant which will produce 4G ethanol from flute gas in Chhattisgarh. The plant will capture 25 TDP CO2 and will produce 3 TDP green hydrogen utilising Veolia’s carbon capture technology, which is said to be operational within two years.
Several Indian companies are boosting their renewable energy capacity and are raising funds as the government is looking to reduce emissions by adding at least 500 GW of clean energy.
Advertisement
Jakson Green signed an agreement with REC, a government-owned infrastructure lender for Rs 1420 crore to fund Jakson’s power projects.
The company has secured credit from the First Abu Dhabi Bank for its international expansion and has also won more than 1 GW of renewable energy projects from Indian government companies like Solar Energy Corporation and National Hydroelectric Power Corporation (NHPC).
Just one email a week