Jakson Green has announced that it has secured a significant credit facility of Rs 296 crore (Rs 2.96 billion) from First Abu Dhabi Bank (FAB), based in the UAE. This financial boost will support the company’s international expansion efforts.
Purpose of the Credit Facility
Jakson Green plans to use this credit facility to fund its global growth, starting with a major project in Uzbekistan. The company aims to enhance its presence in various regions, including the Middle East, Africa, the Commonwealth of Independent States (CIS), and Europe.
Expansion into Uzbekistan
The credit will primarily fund Jakson Green’s entry into Uzbekistan’s renewable energy sector. The company’s first project in Uzbekistan is located in Bukhara and involves:
- 250 MW Solar Power Plant: This large solar power facility will generate substantial renewable energy.
- Integrated Battery Energy Storage System (BESS): The project will also include a 63 MW/126 MWh battery storage system to store and manage the energy produced.
Significance of the Facility
This credit facility represents a crucial step for Jakson Green’s international expansion. It will enable the company to invest in and develop renewable energy projects beyond its current markets. The investment in Uzbekistan aligns with Jakson Green’s strategy to grow its footprint in key international markets.
Global Expansion Strategy
Jakson Green, a renewable energy arm of Jakson Group, is focusing on expanding its operations in various regions. The credit facility from First Abu Dhabi Bank will support this strategy by funding projects that contribute to the global renewable energy landscape. The company is committed to advancing its capabilities in solar energy and battery storage, driving sustainable growth across different regions.
Jakson Green’s acquisition of ₹296 crore in credit from First Abu Dhabi Bank (FAB) is a significant milestone. It marks the beginning of its ambitious plan to expand into new markets and drive forward its renewable energy projects. The investment in Uzbekistan’s solar and battery storage project is a key step in this global expansion effort.