Published On: Fri, Feb 23rd, 2024

Jakson Green Signs its First Power Purchase Agreement with RUVNL for 100MW Project in Rajasthan

Noida, February 23, 2024.

Jakson Green, a leading new energy transition platform, today announced the signing of its first Power Purchase Agreement (PPA) with Rajasthan UrjaVikas Nigam Limited (RUVNL) for a 100 MW solar photovoltaic (PV) plant in Rajasthan, for a term of 25 years. This landmark project marks a significant milestone for Jakson Green, solidifying its position as a key Independent Power Producer (IPP) in India’s rapidly expanding renewable energy sector, while contributing to the Government of India’s ambitious target of achieving 450 GW Solar PV installation by 2030.

RUVNL invited proposals for setting up STU-connected Solar PV projects across Rajasthan in April 2023. Jakson Green emerged victorious through a competitive bidding process, securing the 100 MW project at a tariff of ₹2.61/unit. The project will be commissioned within a period of 18 months from the date of signing the PPA. This project will not only contribute to India’s clean energy goals but also help address the state’s growing power demands.

Commenting on the partnership, Mr. Kannan Krishnan, Joint Managing Director of Jakson Green Private Limited, said, “We are thrilled to partner with RUVNL on this landmark project. This project signifies Jakson Green’s commitment to driving India’s energy transition towards a sustainable future. By securing this project, we are poised to make a significant impact on India’s renewable energy landscape while reinforcing our position as a key Independent Power Producer. We are confident that this collaboration will not only address the growing power demands of the state, but also create valuable employment opportunities in the region, ultimately benefitting communities and the environment alike.”

The 100 MW solar PV plant, to be developed by Jakson Green, is expected to generate clean electricity for over 80,000 households annually and eliminate 187,578 MT/year of carbon emissions. This project signifies a major step forward for Jakson Green’s IPP journey, showcasing its commitment to a cleaner and more efficient future powered by renewable energy.