Jakson Group eyeing green hydrogen projects in India, West Asia and North Africa

Jakson Group is planning to build green hydrogen projects in India, North Africa and West Asia. The projects will be driven by Jakson Green Pvt. Ltd., the company’s clean energy arm. Jakson Group is also looking for potential partners in the regions for its overseas projects. The details about the energy and infrastructure company’s plans were revealed by chairman and managing director Sameer Gupta in an interview to Mint. “The intention is not only to look for solar EPC (engineering, procurement and construction) projects, but also for hydrogen and ammonia projects both in India and MENA (Middle East and North Africa) region. To explore the opportunities, we have also opened our offices in Dubai and Johannesburg," Sameer Gupta said.

Jakson Group is also in talks with some states regarding green hydrogen projects in India. The company is also aiming for acquisitions and strategic partnerships in “futuristic endeavours” like fuel cells, batteries and electrolyzers. “Either we will have acquisitions or strategic partnerships, where both companies will financially participate…we are looking at long term relationships”, Sameer Gupta added. Jakson Group is also looking to scale up its solar module manufacturing capacity from 600 MW at present to 1 GW by December 2022.

The regions of West Asia and North Africa have seen much interest from investors due to their potential as leading suppliers of green hydrogen. Many homegrown renewable energy companies, such as ReNew Power are looking to set up projects in the regions.

Jakson Group was in the news recently as Viresecent Infrastructure was in talks to acquire 100 MW of its solar power portfolio for about Rs 400 crore. According to a Mint report, the discussions were in an advanced stage and would close in a few months. The portfolio includes three operational solar projects, one each in Haryana, Rajasthan and Uttar Pradesh. The projects have long-term purchase agreements for 25 years with the Uttar Pradesh Power Corporation Limited as well as NTPC Vidyut Vyapar Nigam Limited.

Virescent Infrastructure, which operates the Virescent Renewable Energy Trust (VRET), is also looking to collaborate with Jakson Group in other areas as well.

Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook , Twitter and Instagram .