Jakson Green locks debt for 250-MW solar project in Uzbekistan

India’s Jakson Green has secured fresh debt to support its international grow, starting with a 250-MW solar project with co-located battery energy storage system (BESS) in Uzbekistan.

The energy transition platform said on Monday it will receive a INR-2.96-billion (USD 35.4m/EUR 32.6m) credit facility from First Abu Dhabi Bank (Mumbai).

The first project that will benefit from the financing is a project in the Uzbek city of Bukhara, which envisages the construction of a photovoltaic (PV) park coupled with an energy storage facility of 63 MW/126 MWh. Some of the funds will allocated to expand Jakson Green’s global footprint in the Middle East, Africa, the Commonwealth of Independent States (CIS) and Europe.

“The support extended by First Abu Dhabi Bank empowers us to engage with diverse markets and capitalize on opportunities for sustainable growth,” said CFO Chandan Goswami.

Noida-based Jakson Green aims to deliver 10 GW of renewable energy assets by 2025 and 20 GW by 2030 and produce over one million tonnes of green hydrogen by the end of the decade. At the end of May, it obtained an INR-600-million sustainability-linked credit facility from HSBC to support the working capital requirements of its renewable energy business.

(INR 10 = USD 0.119/EUR 0.110)

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