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BC Jindal Group announces $2.5 billion green energy investment
Industry News- Aug 26,24
The new investment will focus on setting up solar equipment manufacturing facilities and developing 5 gigawatts (GW) of green energy capacity.
BC Jindal Group, a leading player in the steel pipe manufacturing sector, is making a significant move into the renewable energy market with a $2.5 billion investment plan. Established in 1952, the company is known for its steel pipes and fittings, but it is now set to expand its portfolio into green energy.
The new investment will focus on setting up solar equipment manufacturing facilities and developing 5 gigawatts (GW) of green energy capacity. This initiative builds on the company's existing 1.2 GW thermal power plant in Angul, Odisha.
To drive this expansion, BC Jindal has created a dedicated entity, Jindal India Renewable Energy (JIRE). JIRE's objective is to generate 5 GW of power through a mix of solar, wind, hybrid, and dispatchable renewable energy sources. This strategic move aligns with the company's commitment to advancing sustainable energy solutions.
(business standard)
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