Jakson Green, the renewable energy arm of the Jakson Group, has obtained a sustainable trade facility of ₹600 million (~$7.1 million) from HSBC India.

The trade facility will help bolster the company’s operational needs within the renewable energy sector in India and overseas.

Jakson Green is broadening its global footprint across regions, including the Middle East, Africa, the Commonwealth of Independent States (CIS), and Europe.

Chandan Goswami, Chief Financial Officer of Jakson Green, said, “This partnership with HSBC India is a significant milestone for Jakson Green. It not only bolsters our renewable energy initiatives within India but also supports our global expansion.”

“Through this facility, we solidify our commitment to paving the way for a brighter, greener world for generations to come, with clean energy solutions at the forefront of our mission, Goswami added.

Ajay Sharma, Head of Commercial Banking, HSBC India, said, “We are committed to supporting and financing the clean energy transition in India. We are pleased to support Jakson Green in their journey to scale up their clean energy business, aligned with our strategic focus on working with our clients to support their sustainability goals.”

The energy and infrastructure conglomerate Jakson Group launched Jakson Green in 2022. Its strategic focus is on green hydrogen, green ammonia, waste-to-energy solutions, electrolyzers, fuel cells, and large-scale battery energy storage systems.

The venture also offers solar energy solutions and associated operation and maintenance services.

In January, Rail Vikas Nigam (RVNL) and Jakson Green announced the formation of a joint venture to explore solar power project opportunities in India and abroad. Under the agreement, Jakson Green owns the majority 51% stake in the new company, and RVNL has the remaining 49%.

The companies hope the partnership will bring synergy in designing, executing, and delivering EPC projects globally. The JV will cater to giga-scale EPC clean energy projects in the Middle East and North Africa, the CIS, and Asia Pacific.