Jakson Group to develop $2.8 bn green fuel project

Jakson Green, part of the Jakson Group, said it had signed a Memorandum of Understanding (MOU) with the Rajasthan government to invest about ₹22,400 crore, roughly $2.8 billion, in Rajasthan State to set up a Green Hydrogen and Green Ammonia project in phases.

Jakson Green will set up a 3,65,000 tonnes per annum Green Hydrogen and Green Ammonia plant in Kota along with an integrated hybrid renewable power complex in a phase-wise manner.

The project is expected to generate over 32,000 direct and indirect employment opportunities across various scale-up phases planned between 2023 and 2028. The Rajasthan government would facilitate Jakson Green in obtaining necessary registrations, approvals, clearances, and provide incentives, among others, it added.

Jakson Green has recently announced its global ambitions to be a leading developer and integrator of green hydrogen and green ammonia assets across select geographies and is eyeing a play in the Independent Hydrogen and Ammonia Production and Electrolyser manufacturing space in line with Prime Minister Narendra Modi’s vision of Atmanirbhar Bharat.

The firm is actively developing a pipeline of renewable energy, green hydrogen and ammonia projects in India and abroad. It has a vision of being a power-to-X player, cumulatively producing over 1 million tonnes per annum (MTPA) of green hydrogen/ammonia by 2030.