Jakson Green Signs Its First Renewable Power Pact With Solar Energy Corporation Of India

NOIDA, India, March 4, 2024 /PRNewswire/ -- Jakson Green, a leading new energy transition platform, announced today the signing of its first Power Purchase Agreement (PPA) with Solar Energy Corporation of India (SECI) for a utility scale solar photovoltaic (PV) power project. This agreement marks a significant milestone for Jakson Green, solidifying its position as a key Independent Power Producer (IPP) in India's growing renewable energy sector.

The subject PPA originated from SECI's Tranche XI auction for setting up grid-connected solar projects in India conducted last year. Jakson Green will be responsible for identifying suitable land, installing the project, and acquiring ownership, besides ensuring necessary approvals and connectivity with the ISTS network for supplying power to SECI. The project is expected to be operational within 18 months from PPA signing date, and the power procured by SECI for the period of 25 years has been provisioned to be sold to different discom entities in India. Besides commercial benefits for all stakeholders, the project is expected to generate clean energy sufficient to power close to one lakh households annually, contribute to the elimination of nearly 188,000 MT/year of carbon emissions, and create valuable job opportunities during both construction and operation phases.

"We are thrilled to initiate our collaboration with SECI starting with this project, first of many more to follow in times to come," said Mr. Kannan Krishnan, Joint Managing Director of Jakson Green Private Limited. "This agreement reinforces our commitment to partnering with leading organizations to accelerate India's clean energy transition. We are confident this project will significantly contribute to the nation's renewable energy goals and create lasting value for all stakeholders."

With this latest power pact inked, Jakson Green nears assets under ownership and development of nearly 1 GW, with further PPAs for sizeably large power assets to be signed over the next many weeks bolstered by a promising development pipeline.

About Jakson Green:

Jakson Green is a new energy transition platform backed by India headquartered Infrastructure and Renewable major- Jakson Group The company focuses on EPC, IPP, IHP & O&M of new energy assets spanning solar, utility-scale storage, renewable hybrids, waste-to-energy, fuel cell technologies, gasification-based projects, green hydrogen, green ammonia projects. Led by renewable sector veterans with over 10 GW of experience across 26 countries, the firm has built up an impressive global presence in a short span since its inception.