Jakson Green Secures INR 2.96 billion Credit Facility from First Abu Dhabi Bank for International Expansion

New Delhi, 22nd July 2024 (GNI): Jakson Green Private Limited, a new energy transition platform, has secured a credit facility of INR 2.96 billion from First Abu Dhabi Bank (Mumbai). This financing will fuel the company’s international expansion, with Uzbekistan serving as the first beneficiary for its upcoming solar photovoltaic (PV) and battery storage project.

As Jakson Green actively expands its global reach in the Middle East, Africa, Commonwealth of Independent States (CIS) and Europe, this credit facility marks a significant milestone for its entry into Uzbekistan’s renewable energy sector. The project includes the construction and operation of a 250 MW solar power plant coupled with an integrated battery energy storage system (BESS) of 63 MW/126MWh. This pioneering project will be situated in Bukhara, Uzbekistan, marking a transformative leap towards sustainable energy infrastructure in the region.

Commenting on the partnership, Mr. Chandan Goswami, Chief Financial Officer of Jakson Green, said, “The support extended by First Abu Dhabi Bank empowers us to engage with diverse markets and capitalize on opportunities for sustainable growth. This project in Uzbekistan exemplifies Jakson Green’s dedication to delivering excellence in utility-scale renewable energy projects, both domestically and internationally, and highlights our commitment to advancing clean energy solutions and fostering global partnerships in the renewable energy sector.”

Mr. Nishad Kulkarni, Executive Director of First Abu Dhabi Bank India, said: “We are pleased to support Jakson Green’s international expansion plans in the renewable space. This project aligns perfectly with our commitment to financing sustainable solutions and driving the transition towards a greener future. We are confident that Jakson Green’s expertise and experience will ensure the success of this landmark project globally.”

About Jakson Green: Jakson Green, a global new energy transition platform headquartered in Noida, India with an international headquarters in Dubai, is backed by the Jakson Group, a leading infrastructure and renewable energy company. Jakson Green focuses on EPC, IPP, IHP and O&M of new energy assets across a wide range of technologies. With a growing presence in India, Europe, MENA, CIS, and Africa, Jakson Green is delivering impactful solutions for the global energy transition.

Led by Bikesh Ogra, a renewable energy sector veteran with over 15GW of experience across 26 countries, Jakson Green has built a strong global presence in a short period since its inception.

As part of its vision to be a leading player in the power-to-X sector, Jakson Green has recently established an electrolyser manufacturing unit to support its global green hydrogen projects. The company aims to achieve a cumulative production capacity of over 0.5 million metric tons per annum of green molecules by 2030. Fore more info, visit www.jakson-green.com.

About FAB: Headquartered in the United Arab Emirates, First Abu Dhabi Bank is one of the world’s largest and safest financial institutions, with total assets exceeding AED 1.2 trillion (USD 336 billion) as of March 2024. In addition to being the largest bank in the UAE and second-largest bank in the Gulf region, FAB operates in 20 markets globally.

FAB provides comprehensive financial services, including Investment Banking, Corporate and Commercial Banking, Consumer Banking, Private Banking, and Global Markets. Listed on the Abu Dhabi Securities Exchange (ADX), FAB is rated Aa3/AA-/AA- by Moody’s, S&P and Fitch respectively, with a stable outlook.

A regional leader in sustainability, FAB has an MSCI rating of ‘A’ and ranks among the top 10% of banks globally according to Refinitiv’s ESG scores, leading in the MENA region. The bank also received a regional-best Low ESG Risk evaluation from Sustainalytics, and the highest CDP score among UAE banks.

For more information, visit: www.bankfab.com. For investor-related queries, please contact the FAB Investor Relations team on ir@bankfab.com; for PR and media-related queries, please contact PRandmedia@bankfab.com.