In a major boost to India’s renewable energy expansion, Blueleaf Energy and Jakson Group have successfully secured a financing package from Axis Bank to develop two large-scale solar projects in Rajasthan. Backed by long-term power purchase agreements (PPAs) and part of an ambitious 1 GW solar portfolio, this collaboration signifies a decisive step toward meeting India’s clean energy ambitions while ensuring steady, long-term returns through stable revenue models.

The financing package, fully underwritten by Axis Bank, underscores the growing confidence of India’s banking sector in large-scale renewable energy ventures. As the sole lender, Axis Bank’s involvement highlights its commitment to enabling sustainable infrastructure financing. The facility will drive the construction and commissioning of 280 MW and 560 MW ground-mounted solar projects in Bikaner, Rajasthan, both integral components of the broader 1 GW Rajasthan solar portfolio jointly developed by Blueleaf Energy and Jakson Green. The projects are supported by long-term PPAs, guaranteeing predictable cash flows and financial resilience throughout their operational lifespan.

The two Bikaner-based projects are poised to significantly bolster the state’s renewable energy capacity. Electricity generated from the 280 MW and 560 MW solar farms will be transmitted through the Bikaner-III Interstate Transmission System, ensuring efficient grid integration. These developments will also complement the Bhawad 140 MWp solar project, currently under construction and slated for commissioning later this year. Blueleaf Energy, a Macquarie Asset Management-owned Pan-Asian renewable platform, brings global expertise to the initiative, while Jakson Green contributes its strong domestic presence and technical capabilities — together forming a robust alliance for India’s solar transformation.

Financial viability and operational sustainability are at the heart of this solar portfolio. The 560 MW project has secured a 25-year PPA with NHPC, India’s leading hydropower producer, while the 280 MW project enjoys a 25-year PPA with SECI, the Solar Energy Corporation of India. These agreements ensure guaranteed offtake, providing long-term revenue stability and supporting India’s broader goals of decarbonization and energy independence. With both projects now fully financed, construction is set to accelerate, driving Rajasthan closer to becoming a solar powerhouse and a beacon for sustainable infrastructure investment.

The Axis Bank financing marks a significant milestone in India’s renewable energy journey, empowering Blueleaf Energy and Jakson Group to deliver 840 MW of clean, reliable power to the grid. Through this collaboration, financial innovation meets environmental responsibility — positioning Rajasthan as a central hub for solar excellence and a model for large-scale green financing.

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