Jakson Green Secures INR 2.96 billion Credit Facility from First Abu Dhabi Bank for International Expansion

New Delhi, 22nd July 2024: Jakson Green Private Limited, a new energy transition platform, has secured a credit facility of INR 2.96 billion from First Abu Dhabi Bank (Mumbai). This financing will fuel the company's international expansion, with Uzbekistan serving as the first beneficiary for its upcoming solar photovoltaic (PV) and battery storage project.

As Jakson Green actively expands its global reach in the Middle East, Africa, Commonwealth of Independent States (CIS) and Europe, this credit facility marks a significant milestone for its entry into Uzbekistan's renewable energy sector. The project includes the construction and operation of a 250 MW solar power plant coupled with an integrated battery energy storage system (BESS) of 63 MW/126MWh. This pioneering project will be situated in Bukhara, Uzbekistan, marking a transformative leap towards sustainable energy infrastructure in the region.

Commenting on the partnership, Mr. Chandan Goswami, Chief Financial Officer of Jakson Green, said, "The support extended by First Abu Dhabi Bank empowers us to engage with diverse markets and capitalize on opportunities for sustainable growth. This project in Uzbekistan exemplifies Jakson Green’s dedication to delivering excellence in utility-scale renewable energy projects, both domestically and internationally, and highlights our commitment to advancing clean energy solutions and fostering global partnerships in the renewable energy sector."

Mr. Nishad Kulkarni, Executive Director of First Abu Dhabi Bank India, said: "We are pleased to support Jakson Green's international expansion plans in the renewable space. This project aligns perfectly with our commitment to financing sustainable solutions and driving the transition towards a greener future. We are confident that Jakson Green's expertise and experience will ensure the success of this landmark project globally.”