New Delhi, India – Jakson Green a pan-Asian renewable energy platform owned by a Macquarie Asset Management managed fund, today announced their strategic partnership with a 1-gigawatt (GW) solar portfolio in Rajasthan, representing an investment of USD 400 million. The partnership will focus on jointly developing and building gigawatt-scale green energy projects in India.
The inaugural 1 GW portfolio, funded through a combination of debt and equity, comprises of three solar projects. These projects include Intra State Transmission System (InSTS) and Inter State Transmission System (ISTS) projects with 25-year power purchase agreements (PPAs) secured via competitive bidding from RUVNL, SECI, and NHPC. The three solar projects are expected to be progressively commissioned in 2025-2026.
Projected to generate over 1,800 GWh of green energy a year, enough to sustainably power over 1.5 million Indian households, the Rajasthan Solar Portfolio will save over 22 million tons of CO₂ emissions over 25 years, the equivalent of removing over five million cars from the road. The initiative will also create valuable job opportunities during both construction and operation phases, demonstrating the strong commitment of both JGPL and Blueleaf to sustainable development.
Commenting on the milestone, Mr. Bikesh Ogra, MD and CEO of Jakson Green, said, “We are delighted to partner with Blueleaf Energy. This collaboration further solidifies our presence as a respected global player in energy transition. The sheer scale of this project is a testimony to our commitment on delivering world-class projects, while being the most trusted energy transition partner.”
“We are proud to be embarking on this strategic partnership with Jakson Green to develop gigawatt-scale renewable energy projects. 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,”remarked 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. We are very excited to be driving real progress in India’s decarbonization,” remarked Pratyush Thakur, Country Head of Blueleaf Energy in India.
Jakson Green engaged Ernst & Young (EY) as the exclusive sell side investment banker for the entire transaction.
JGPL also announced that it has strengthened its financial foundation, securing credit facilities of INR 2.96 billion from First Abu Dhabi Bank (Mumbai) and INR 600 million from HSBC. These funds will support JGPL’s domestic and international EPC operations.
