Jakson Green, an Indian renewable energy firm, has inked a 25-year power purchase agreement (PPA) with domestic hydropower producer NHPC Ltd (BOM:533098) for the output of a 400-MW solar park in India.
The deal, announced via a LinkedIn post on Wednesday, marks a significant milestone, boosting Jakson Green's total development portfolio as an independent power producer to 1 GW.
The PPA was secured at a tariff of INR 2.53 per kWh through an auction conducted by NHPC, targeting capacity connected to India's Central Transmission Utility.
The contracted photovoltaic (PV) project, set to be located in Rajasthan, aims to commence operations within 24 months of the PPA's signing date and will feed electricity into the national power grid. It is expected to generate enough electricity to meet the annual consumption needs of 400,000 homes.
Under the agreement, NHPC will manage the sale of electricity volumes to power distribution companies, further integrating renewable energy into India's energy mix.
Established in 2022, Jakson Green has set ambitious targets, aiming to expand its renewables portfolio to 7.5 GW by 2027 and ultimately reach an 18-GW platform by 2030, reflecting its commitment to advancing sustainable energy solutions in India.
