Jakson Green Secures Rs 296 Cr Credit for Uzbekistan Solar Project

New Delhi, Jul 22 (PTI) Jakson Green on Monday said the company has secured a credit facility of Rs 296 crore from UAE-based First Abu Dhabi Bank.

In a statement, the company said it will use the proceeds for the expansion of its international business beginning with investment in Uzbekistan.

"Jakson Green has secured a credit facility of Rs 2.96 billion from First Abu Dhabi Bank. 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," it said.

The credit facility marks a significant milestone for its entry into Uzbekistan's renewable energy sector, as the company actively looks to expand its global reach in the Middle East, Africa, Commonwealth of Independent States (CIS) and Europe, the statement said.

The project in Bukhara, Uzbekistan, 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. Jakson Green is the renewable energy arm of Jakson Group.