Jakson Green raises Rs 60 crore from HSBC India

Jakson Green, a new energy transition platform backed by Jakson Group, has announced that it has secured a sustainable trade facility of Rs 60 crore ($7.2 million) from HSBC India. 

The funding is designated to support the company’s working capital requirements for its renewable energy projects, both within India and internationally.

The announcement marks a significant step in Jakson Green’s efforts to enhance its renewable energy business.

Funding to support Jakson Green’s initiatives

The secured funding will bolster Jakson Green’s renewable energy initiatives within India and aid in its global expansion efforts.

Chandan Goswami, the Chief Financial Officer of Jakson Green Pvt. Ltd., said, “This partnership with HSBC India] not only bolsters our renewable energy initiatives within India but also supports our global expansion.”

Notably, The company is actively expanding its operations in regions including the Middle East, Africa, CIS countries, and Europe.

Focused on developing new energy assets

Jakson Green focuses on developing new energy assets across various domains, including solar, utility-scale storage, renewable hybrids, waste-to-energy, fuel cell technologies, gasification-based projects, green hydrogen, and green ammonia projects.

The company executes projects on both EPC (Engineering, Procurement, and Construction) and IPP (Independent Power Producer) bases. It also provides operations and maintenance support for these projects.

Future plans

Led by Bikesh Ogra, a renewable sector veteran with over 10 GW of experience across 26 countries. Since its inception, Jakson Green has built a notable global presence and plans to deliver 15 GW by 2030.

In alignment with its vision of becoming a power-to-X player, the firm aims to cumulatively produce over 0.5 million tons per annum of green hydrogen and green ammonia by 2030. It has recently set up an electrolyser manufacturing unit and is building and operating green hydrogen assets globally.

HSBC India highlights the importance of funding

HSBC India’s support is crucial for Jakson Green’s growth. Ajay Sharma, Head of Commercial Banking at HSBC India, emphasized the bank’s commitment to supporting and financing the clean energy transition in India.

“We are committed to supporting and financing the clean energy transition in India. We are pleased to support Jakson Green in their journey to scale up their clean energy business, aligned with our strategic focus on working with our clients to support their sustainability goals," Sharma said.

This partnership underscores Jakson Green’s dedication to ESG (Environmental, Social, and Governance) responsibilities and its leadership in promoting a sustainable and inclusive future.