Jakson Green procures $7.2 million funding from HSBC India
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Jakson Green Pvt Ltd., a newly established energy transition firm, recently secured $7.2 million as funding from HSBC India, according to a report by The Economic Times (ET).
According to the report, the funding is supposed to support the transition firm’s working capital needs to sustain its renewable energy business. The funds are allocated to support the business both domestically and internationally.
“It not only bolsters our renewable energy initiatives within India but also supports our global expansion”, said Chandan Goswami, CEO of Jakson Green, in ET’s report.
As per ET’s report, the energy transition firm is seeking to extend its global reach by strengthening its presence in the Middle East, Africa, Commonwealth of Independent States (CIS) countries, and Europe.
Also read: Zenobē secures new round of debt financing worth $524 million
The debt funds acquired from HSBC India will be utilised to expand the firm’s activities in interested sectors. The firm was established in 2022 with a focus on the new energy sector.
According to the ET report, the firm focuses on projects related to the energy sector, including solar, large-scale storage, waste-to-energy, fuel cell technologies, projects based on gasification, green hydrogen, and green ammonia.
The energy transition firm intends to assimilate 10 gigawatts (GW) of renewable energy assets by 2025 and expand its asset capacity to 20 GW in the following five years.
In addition, it intends to generate more than a million tons of green hydrogen by 2030. The debt financing acquired from HSBC will aid the energy transition firm in accomplishing these targets.
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