Singapore-based renewable energy platform, Blueleaf Energy, and Noida-based Jakson Green have announced the financial close of 840 MW ground-mounted solar projects in Bikaner, Rajasthan. This capacity comprises a 280 MW and a 560 MW project.

These projects are part of the $400 million 1 GW solar project portfolio in Rajasthan, for which Blueleaf and Jackson had partnered in January this year. This portfolio also includes the under-construction 140 MW solar project in Bhawad, scheduled for commissioning this year.

These projects target generating over 1,800 GWh of renewable energy annually. The partnership aims to add over 5 GW of renewable energy capacity to India’s grid by 2030.

The 280 MW solar project holds a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India, and the 560 MW project has a PPA with NHPC for the same period. The projects will feed energy into the Bikaner-III interstate transmission system.

Blueleaf said this financial close was secured with Axis Bank, and marks the completion of the funding for the entire portfolio.

Blueleaf Energy is a pan-Asian renewable energy platform that develops, finances, owns, and operates onshore solar, wind, and storage projects, operating in Southeast Asia, India, Taiwan, and Japan. Its pipeline includes over 4.5 GW of generation assets and nearly 3 GWh of storage 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.

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 2024, the company secured a ₹2.96 billion (~$35.36 million) credit facility from First Abu Dhabi Bank (Mumbai) to support its international expansion, starting with a solar photovoltaic and battery storage project in Uzbekistan.