Jakson Green Nears $476M for Green Growth

4 Oct 2024 , 12:21 PM

According to Joint Managing Director Krishnan Kannan who talked to Reuters, Jakson Green is close to raising more than 40 billion rupees ($476.4 million) to increase its renewable energy capacity.

The company is part of the Jakson Group, which also manufactures solar modules and cells through a subsidiary called Jakson Solar.

“We are working with a strategic partner to get the investment. Kannan told Reuters on Thursday at the Renewable Energy India Expo in New Delhi that the investment for this 1 GW will be roughly 40 billion rupees, with 75% financing and 25% equity.

The company is in early talks with green energy investors and hopes to close the fundraising by November, he said.

A growing number of Indian enterprises are increasing their renewable energy capacity and seeking funding as the government wants to cut emissions by adding at least 500 GW of clean energy by 2030.

Kannan added that Jakson Green plans to install 1 GW of renewables capacity every year over the next five years and will raise financing as needed.

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