Renewable energy firm Jakson Green is targeting a commissioned operational fleet of 12.5 gigawatts (GW) over the next 24 months, including 2.5 GW of independent power producer (IPP) projects and around 9.5 GW of engineering, procurement and construction (EPC) projects. According to reports from Business Standard, the company's portfolio includes 500 megawatt-hours of battery energy storage system (BESS) projects, along with 7 GW of projects in the operations and maintenance (O&M) segment. While some projects are already commissioned, others are at various stages of development, construction and commissioning.
The company is expanding its IPP portfolio, with around 1 GW of projects fully financed and currently under execution at sites. As reported by Business Standard, Vice Chairman and Global CEO Bikesh Ogra stated that "The remaining IPP projects are under active discussion with lenders for financial closure. These projects have secured land, permits, connectivity and power purchase agreements and are at an advanced stage of development." The company aims to be among the leading IPP players over the next four to five years, participating in bids across central and state policies and the C&I segment annually. According to Ogra's latest interview, "Every year, we will be participating in bids across central and state policies and also in the commercial and industrial segment."
Jakson Green is targeting 30 GW of renewable IPP and EPC capacity by 2030 and building adjacent areas within the energy transition, including water desalination. According to the company's plans reported by Business Standard, it has incubated a CBG business within Jakson Green, along with biomass pellet manufacturing, biomass gasification, steam-as-a-service and biomass gasification producing syngas and biochar. The company has also acquired technology from a Netherlands-based company for water desalination projects. Ogra explained that "We want to create a lot of these plants as ownership-based projects over the next four to five years and create an O&M portfolio for all these assets under one bucket. We will manage these portfolios, whether they involve hydrogen, ammonia or renewable assets."
Recently, the company won a green ammonia project awarded by SECI, which is currently under development with an annual offtake of 85,000 metric tonnes. As reported by Business Standard, Ogra confirmed that "We should start construction of the green hydrogen production project by the end of this year." The commissioning timeline is set for the end of 2028 with supply to Coromandel International Limited starting in the first quarter of 2029. According to his latest interview, "The land for ammonia production in the Gopalpur Special Economic Zone has been acquired, and front-end engineering and design is complete." Ogra also mentioned that "land is currently being acquired for the renewable assets that will feed the hydrogen and ammonia production. Construction of those assets will begin in the first quarter of the next calendar year."
For investment in all its new ventures, Jakson Green is following multiple paths to raise capital. As reported by Business Standard, Ogra explained that "We divested a substantial amount of our shareholding so that we could get a premium and utilise it to develop more assets. That is how we want to recycle capital." Discussions are also taking place on some of the other assets under the same model, with "multiple partners lined up in special purpose vehicles to work with us once we have the developed portfolio in place. They will either come in as a substantial majority or majority partners." Green hydrogen pricing is following the same trajectory as renewables, with the first price discovered around $3-4 per kg and subsequent bids discovering 20-25% lower than earlier bids. According to Business Standard, Ogra noted that "The first price discovered was around $3-4 per kg. It has come down substantially, with the last bid discovering almost 20-25% lower than the earlier bid."
