Jakson Green Signs a 400 MW Solar PPA with NHPC, Achieving 1 GW of IPP Portfolio

Jakson Green Signs a 400 MW Solar PPA with NHPC, Achieving 1 GW of IPP Portfolio

• The project is expected clean energy generation sufficient to power around four lakh households annually
• Nearly 752,000 MT of CO2 emissions will be eliminated per year
• The 400 MW Solar agreement with NHPC propels Jakson Green to a remarkable 1 GW IPP portfolio

New Delhi: July 3, 2024 (GNI) : Jakson Green, a leading new energy transition platform, announced today the signing of its first Power Purchase Agreement (PPA) with NHPC Limited, India’s largest hydropower producer. This agreement marks a significant milestone for Jakson Green, solidifying its position as a fast-growing Independent Power Producer (IPP) with a total portfolio of 1 GW under development.

The PPA was signed between Mr. Onkar Yadav, General Manager, NHPC and Mr. Kannan Krishnan, Joint MD, Jakson Green in the presence of Mr. M.K Gupta, Executive Director, NHPC and other senior dignitaries of both companies.

In a competitive bidding process conducted by NHPC last year for pan-India CTU connected projects, Jakson Green successfully won 400 MW Solar capacity, securing a favorable tariff of ₹2.53 per unit. The project is scheduled for commissioning within 24 months of signing the PPA. The power purchased by NHPC for 25 years is provisioned for sale to discoms.

Commenting on this remarkable fleet, Mr. Kannan Krishnan, Joint Managing Director, Jakson Green Private Limited said, “We are thrilled to embark on this agreement with NHPC, the first of many more to come. This 400 MW solar PPA, our largest to date, with NHPC is a monumental achievement for Jakson Green. It underscores our commitment to becoming a leading IPP platform in India and contributing to the nation’s clean energy transition, while creating value for our stakeholders. Partnering with a prestigious organization like NHPC further validates our capabilities and opens exciting opportunities for future collaborations.”

This new project will be located in Rajasthan and connected to the central grid, with an expected clean energy generation sufficient to power around four lakh households annually. Contributing to the elimination of nearly 752,000 MT/year of CO2 emissions, the project will also create valuable job opportunities during construction and operation phases.

Building on the successful signings of PPAs with SECI and RUVNL earlier this year, the 400 MW solar agreement with NHPC propels Jakson Green to a remarkable 1 GW IPP portfolio. These strategic partnerships solidify Jakson Green’s position as a frontrunner in India’s clean energy sector, perfectly poised to make a substantial impact on the nation’s ambitious renewable energy goals.

About Jakson Green: Jakson Green, a new energy transition platform backed by India headquartered Infrastructure and Renewable major, Jakson Group, focusses on EPC, IPP, IHP and O&M of new energy assets spanning solar, utility-scale storage, waste-to-energy, fuel cell technologies, gasification-based projects, green hydrogen, and green ammonia projects. Promoted and led by Bikesh Ogra, a renewable sector veteran with over 10GW of experience across 26 countries, the firm has built up an impressive global presence in a short span since its inception and plans to deliver 15GW by 2030.

The firm has recently set up the electrolyser manufacturing unit, besides building and operating green hydrogen assets globally, in line with its vision of being a power-to-X player cumulatively producing over 0.5 million tons per annum of green hydrogen/ammonia by 2030.ends GNI