Jakson Green signs pact with NHPC for supply of 400 MW solar power

New Delhi: New energy transition platform Jakson Green on Wednesday said it has inked a pact with state-owned NHPC for the supply of 400 MW solar power.

Jakson Green has signed its first Power Purchase Agreement (PPA) with NHPC Ltd, a company statement said.

This agreement marks a significant milestone for Jakson Green, solidifying its position as a fast-growing Independent Power Producer (IPP) with a total portfolio of 1 GW under development, the statement added.

"We are thrilled to embark on this agreement with NHPC, the first of many more to come. This 400 MW PPA, our largest to date, with NHPC is a monumental achievement for Jakson Green," Kannan Krishnan, Joint Managing Director, Jakson Green Pvt Ltd said.

This new project will be located in Rajasthan and connected to the central grid, with an expected clean energy generation sufficient to power around four lakh households annually.

Contributing to the elimination of nearly 752,000 MT/year of CO2 emissions, the project will also create valuable job opportunities during construction and operation phases.

In a competitive bidding process conducted by NHPC last year for pan-India CTU connected projects, Jakson Green successfully won 400 MW capacity, securing a favorable tariff of Rs 2.53 per unit. The project is scheduled for commissioning within 24 months of signing the PPA.

The power purchased by NHPC for 25 years is provisioned for sale to discoms.

The PPA was signed between Onkar Yadav, General Manager, NHPC and Kannan Krishnan, Joint MD, Jakson Green in the presence of M K Gupta, Executive Director, NHPC and other senior dignitaries of both companies.

Building on the successful signings of PPAs with Solar Energy Corporation Of India (SECI) and Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RUVNL) earlier this year, the 400 MW agreement with NHPC propels Jakson Green to a remarkable 1 GW IPP portfolio.