Key Takeaways
- Jakson Green plans to invest up to $1 billion in renewable energy over the next four years.
- The company has formed a strategic partnership with Blueleaf Energy, which acquired a significant stake in Jakson Green’s solar energy portfolio.
- Jakson Green aims to develop a 5 GW renewable energy portfolio, including solar, wind, and storage projects by FY27.
Investment Strategy and Partnerships
Jakson Green, a Noida-based renewable energy company, has announced plans to invest up to $1 billion in expanding its renewable energy operations within the next four years. Bikesh Ogra, the managing director and global CEO, stated that the funding will be sourced through a mix of debt and equity.
The company’s Engineering, Procurement, and Construction (EPC) business has been instrumental in generating cash flows, which will support this investment strategy. Notably, Jakson Green recently secured a partnership with Macquarie-owned Blueleaf Energy, which acquired a significant stake in its 1 GW solar energy portfolio for an enterprise value of $400 million. As part of this deal, Blueleaf will hold stakes in three solar projects in Rajasthan that have already obtained power purchase agreements and secured land for development.
Blueleaf Energy, a renewable energy platform backed by Macquarie Asset Management, has a broad presence across Asia and is involved in developing a pipeline of various renewable energy projects totaling 7 GW, including solar, wind, and storage.
Ogra emphasized the company’s ambitious goal to develop a 5 GW renewable energy portfolio, spanning solar, wind, and battery projects, with a target to start from fiscal year 2027. The yearly investment required for this expansion is projected to range between $400 million and $500 million.
Diversification and Manufacturing Capabilities
Jakson Green, part of the Jakson Group, which traditionally focused on manufacturing diesel generators, has diversified over the past two years. Its renewable energy portfolio now includes distributed energy solutions, solar modules and inverters, green energy, biofuels, and various infrastructure and EPC projects. The Jakson Group maintains majority control over Jakson Green.
The group operates six manufacturing plants across India, including generator manufacturing facilities in Gujarat and Maharashtra, producing over 15,000 units annually. Additionally, the group has established installations for battery energy storage systems (BESSs), solar module production, and electrolyser manufacturing in Greater Noida, Uttar Pradesh.
Jakson Green’s solar module factory specializes in half-cut cells, as well as mono and bifacial modules, with a production capacity of 1.2 GW per year. Its electrolyser plant has a capacity of 300 MW, offering technologies such as alkaline and PEM, contributing to the company’s goal of sustainable energy development through innovative solutions.
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