Jakson Green aims to launch an operational renewable energy park with a capacity of 12.5 gigawatts (GW) over the next twenty-four months. This plan includes 2.5 GW of independent power producer (IPP) projects and approximately 9.5 GW of engineering, procurement, and construction (EPC) projects.
The company's portfolio also covers battery energy storage system (BESS) projects with a capacity of 500 megawatt-hours, as well as 7 GW of maintenance and operations (O&M) projects. Some of these projects have already been commissioned, while others are at various stages of development, construction, and commissioning.
Jakson Green is expanding its IPP portfolio, holding about 1 GW of fully financed and on-site implementation projects. Bikesh Ogra, Vice Chairman and Global CEO, stated in an interview that the remaining IPP projects are actively being discussed with lenders for financial closure. These projects have secured land, permits, grid connections, and power purchase agreements (PPAs) and are at an advanced stage of development.
In the next four to five years, the green energy firm aims to become one of the leading players in the IPP sector. He added that the company will participate in tenders under central and government policies annually, as well as in the commercial and industrial customer (C&I) segment.
By 2030, Jakson targets achieving 30 GW of capacity in renewable IPP and EPC. Furthermore, the company is developing adjacent areas within the energy transition, including water desalination, for which it has acquired technology from a Dutch company.
As part of its operations, Jakson Green has also launched a business for CBG production, as well as the production of biofuel pellets, biogas oxidation, steam services, and synthesis gas and biochar from biogas oxidation. Ogra stated that they intend to establish many such plants as company projects over the next 4-5 years and form an operations and maintenance portfolio for all these assets. These portfolios will be managed by the company, regardless of whether they are related to hydrogen, ammonia, or renewable assets.
To finance all new initiatives, Jakson Green utilizes several capital raising avenues. Partnerships have been formed in the IPP business, which includes renewable energy and BESS. Ogra noted that the company sold a significant stake to receive a premium and use it to develop additional assets, thereby recycling capital.
Discussions are also underway for some other assets built on a similar model. Ogra reported that a number of partners are ready to work with the company through special purpose vehicles (SPVs) after the developed portfolio is established, and these partners can join as lead or majority partners.
Recently, the company won a green ammonia production project awarded by SECI, which is currently under development. This order specifies an annual procurement volume of 85,000 metric tons. Ogra clarified that the land for ammonia production in Gopalpur SEZ has been acquired, and initial design is complete. He added that construction of the green hydrogen production project should begin by the end of the current year.
He also mentioned that land is currently being acquired for renewable assets that will power hydrogen and ammonia production. Construction of these facilities will begin in the first quarter of the next calendar year. According to the procurement agreement, the commissioning deadline is the end of 2028, and deliveries to Coromandel International Limited will start in the first quarter of 2029, with the remainder of the supply volume also being ready.
The company has commissioned several pilot projects, including a green methanol production project that captures carbon from thermal power plant flue gases, mixes it with hydrogen produced by electrolyzers, and directs it into the methanol cycle. This project was supplied to NTPC.
Regarding the country's ambitions in green hydrogen, Ogra stated that the goal is to convert 10 percent of actual hydrogen consumption at refineries, steel mills, cement plants, and fertilizer plants, where hydrogen is used for ammonia production, into green fuels. He predicts that positive momentum can be seen within the next one to one and a half years.
About 30,000 tons of production capacity per year has been allocated. According to Ogra, the government plans to conduct tenders and auctions for approximately 200,000 tons of hydrogen in tranches of 5,000–10,000 tons per year over the next 12–18 months. He added that the development cycle for these projects is 24–30 months, after which implementation and construction will begin.
Concerning pricing, green hydrogen follows the same trajectory as renewable energy sources. He noted that the first discovered price was around $3–$4 per kilogram, but it has significantly decreased, as the latest auction showed a price nearly 20–25 percent lower than the previous one.
Emphasizing that the cost of green hydrogen is determined by the cost of renewable energy sources and electrolyzer technologies, he pointed out that the technology is evolving in terms of electricity consumed per kilogram of hydrogen produced. He also stated that capital expenditures are becoming more efficient, and the lifespan of electrolyzers is increasing in terms of age and operating hours, while the cost of renewable energy and batteries continues to decline.
