Jakson Green Secures Funding for Global Renewable Energy Push
Jakson Green, a Jakson Group subsidiary focused on clean energy solutions, has secured a significant boost for its renewable energy ambitions. The company announced securing a Rs 60 crore ($7.2 million) sustainable trade facility from HSBC India.
Funding Boosts Domestic and International Growth
This funding will directly address Jakson Green’s working capital needs for its renewable energy projects, both within India and abroad. This support signifies a critical step forward in the company’s efforts to solidify its position within the renewable energy sector.
Chandan Goswami, Jakson Green’s Chief Financial Officer, highlighted the dual benefit of this partnership. “This collaboration with HSBC India not only strengthens our renewable energy initiatives in India but also fuels our global expansion endeavors,” he stated. The company is actively expanding its operations across various regions, including the Middle East, Africa, CIS countries, and Europe.
Broad Spectrum of Renewable Energy Solutions
Jakson Green’s core mission is the development of new assets across a diverse range of renewable energy domains. This includes solar power, large-scale storage solutions, hybrid renewable projects, waste-to-energy initiatives, fuel cell technologies, gasification-based projects, and ventures involving green hydrogen and green ammonia.
The company operates with a flexible approach, undertaking projects on both EPC (Engineering, Procurement, and Construction) and IPP (Independent Power Producer) models. Additionally, they offer operation and maintenance support for these projects throughout their lifespans.
Ambitious Growth Plans with a Focus on Green Hydrogen
Led by Bikesh Ogra, a seasoned veteran with over 10 GW of experience in the renewable energy sector across 26 countries, Jakson Green has established a noteworthy global presence since its inception. The company has set a target of delivering 15 GW of renewable energy by 2030.
Furthermore, aligning with its vision of becoming a major player in the power-to-X (Power-to-Anything) sector, Jakson Green aims to achieve a cumulative production of over 0.5 million tons of green hydrogen and green ammonia per year by 2030. The company has recently established an electrolyser manufacturing unit and is actively involved in building and operating green hydrogen assets globally.
Strategic Partnership with HSBC India
The support extended by HSBC India is a critical factor in enabling Jakson Green’s growth trajectory. Ajay Sharma, Head of Commercial Banking at HSBC India, reaffirmed the bank’s commitment to supporting and financing the clean energy transition in India.
“We are firmly committed to supporting and financing the clean energy transition in India,” Sharma said. “We are pleased to partner with Jakson Green in their journey to scale up their clean energy business. This aligns perfectly with our strategic focus of collaborating with clients to support their sustainability goals.”
This collaborative effort underscores Jakson Green’s unwavering dedication to upholding its ESG (Environmental, Social, and Governance) responsibilities and its leadership role in promoting a sustainable and inclusive future.