Blueleaf and Jakson achieve financial close for 840 MWp Rajasthan solar projects

Blueleaf Energy and Jakson Green have achieved financial close for their 840 MWp Bikaner solar projects in Rajasthan, marking the completion of funding for the partners’ 1 GWp Rajasthan Solar Portfolio. The financing was secured with Axis Bank.

The portfolio includes two ground-mounted solar plants of 280 MWp and 560 MWp capacity. These projects are supported by 25-year power purchase agreements (PPAs) with the Solar Energy Corporation of India (SECI) and NHPC Limited, respectively. With this milestone, construction for both projects is set to begin.

The Bikaner projects will operate alongside the portfolio’s Bhawad 140 MWp solar project, which is already under construction and scheduled for commissioning later this year. Once operational, the two Bikaner plants are expected to generate enough power to supply over 1.5 million Indian households annually and offset more than 34 million tons of CO2 over 25 years.

The projects will connect to the Bikaner-III interstate transmission system and are expected to contribute to local sustainable development. Blueleaf Energy, owned by a Macquarie Asset Management-managed fund, and Jakson Green, part of Jakson Limited, aim to add over 5 GW of renewable capacity to India’s grid by 2030.