India's Jakson Green has obtained new financing to support its international expansion, starting with a 250-MW solar project featuring a co-located battery energy storage system (BESS) in Uzbekistan. The company announced on Monday that it will receive a credit facility of INR 2.96 billion (USD 35.4 million/EUR 32.6 million) from First Abu Dhabi Bank.
The initial project funded by this facility is based in Bukhara, Uzbekistan, and includes the development of a photovoltaic (PV) park combined with a 63 MW/126 MWh energy storage facility. The funds will also be used to expand Jakson Green's presence in the Middle East, Africa, the Commonwealth of Independent States (CIS), and Europe.
“The support extended by First Abu Dhabi Bank empowers us to engage with diverse markets and capitalize on opportunities for sustainable growth,” said Chandan Goswami, CFO of Jakson Green.
The Noida-based company aims to deploy 10 GW of renewable energy assets by 2025 and 20 GW by 2030, alongside producing over one million tonnes of green hydrogen by the end of the decade. In May, Jakson Green secured an INR 600-million sustainability-linked credit facility from HSBC to support its renewable energy business's working capital needs.
