Jakson Green signs its 1st renewable power pact with SECI

New Delhi: Energy transition platform Jakson Green on Thursday announced the signing of its first power purchase agreement with Solar Energy Corporation of India (SECI) for a utility-scale solar photovoltaic (PV) power project.

This agreement marks a significant milestone for Jakson Green, solidifying its position as a key independent power producer (IPP) in India's growing renewable energy sector, it stated.

PSU Watch is now on Whatsapp Channels. Click here to join

According to the statement, the power purchase agreement (PPA) originated from SECI's Tranche XI auction for setting up grid-connected solar projects in India conducted last year.

Jakson Green will be responsible for identifying suitable land, installing the project, and acquiring ownership, besides ensuring necessary approvals and connectivity with the ISTS (Inter State Transmission System Projects) network for supplying power to SECI.

The project is likely to be operational within 18 months from the PPA signing date, and the power procured by SECI for 25 years will be sold to different discom entities in India.

Besides commercial benefits for all stakeholders, the project is likely to generate clean energy sufficient to power close to one lakh households annually, contribute to the elimination of nearly 1,88,000 MT/year of carbon emissions, and create valuable job opportunities during construction and operation phases.

"We are thrilled to initiate our collaboration with SECI starting with this project, the first of many more to follow in times to come," said Kannan Krishnan, Joint Managing Director of Jakson Green Private Limited.

With this latest pact, Jakson Green nears assets under ownership and development of nearly 1 GW, with further PPAs for sizeably large power assets to be signed over the next many weeks bolstered by a promising development pipeline, the statement said.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)