Blueleaf Energy, a Singapore-based renewable energy platform, has partnered with Noida-based Jakson Green to invest $400 million to develop 1 GW solar projects in Rajasthan.

The project aims to generate over 1,800 GWh of renewable energy annually, meeting the energy needs of over 1.5 million Indian households.

It is expected to reduce over 22 million tons of CO2 emissions.

The project is funded through debt and equity and comprises three solar projects. These projects include inter-state and intra-state transmission systems with 25-year power purchase agreements secured with the Solar Energy Corporation of India, NHPC, and Rajasthan Urja Vikas Nigam.

The projects will likely be commissioned between 2025 and 2026 on a build-own-operate model.

Raghuram Natarajan, CEO, Blueleaf Energy, said the partnership aims to add over 5 GW of renewable energy capacity to India’s grid by 2030.

Blueleaf Energy has developed over 2 GW of renewable capacity globally, including 500 MW projects in the Asia-Pacific region. It has a development pipeline of more than 7 GW of solar, wind, and storage projects.

Jakson Green has a global solar engineering, procurement, and construction portfolio of a capacity of over 5 GW and more than 1 GW of assets under development. The company also invests in developing green hydrogen, ethanol, and low-carbon methanol projects.

In August 2024, Blueleaf secured approximately $170 million for its 200 MW wind-solar hybrid power project under development in Madhya Pradesh. The project, expected to start operations this year, is estimated to produce over 600 GWh of energy annually.

In May 2023, the Philippine government awarded Blueleaf Energy and SunAsia Energy contracts to construct and manage what is claimed to be the world’s largest floating solar project, with a combined capacity of 610.5 MW. Blueleaf Energy and SunAsia Energy will collaborate to construct a floating solar installation on Laguna Lake, which extends across Calamba, Santa Rosa, Cabuyao, Bay, and Victoria.