BC Jindal Group, one of India’s leading business conglomerates with over Rs 180 billion turnover, has announced that its renewable energy arm, Jindal India Renewable Energy (JIRE) has won a 300 MW solar plus storage project from state-owned, SJVN. The project is part of SJVN’s 1200 MW inter-state transmission system-connected solar power projects tender with 600 MW/2400 MW of battery energy storage systems (BESS).

 

JIRE won the bid for 300 MW of solar capacity at a tariff of Rs 3.32/kWh. According to the terms, the project will be developed on a build-own-operate basis. The greenfield project must be completed within 24 months from the signing of the power purchase agreement (PPA).

 

Commenting on the announcement, the spokesperson of Jindal India Renewable Energy, said, “Winning this project reaffirms JIRE’s ability to deliver scalable and clean energy solutions. It strengthens the growing trust in our capabilities and reinforces our commitment to delivering firm, clean power that supports India’s energy transition. We remain focused on expanding our capacity to 5 GW in the coming years across solar, wind, hybrid, RTC, and FDRE platforms.”

 

SJVN will enter into an agreement with JIRE for a period of 25 years. The Navratna Company will purchase solar power from JIRE and sell it to state utilities and others. As part of the contract, JIRE will have to deploy an ESS of at least 0.5 MW/ 2MWh capacity for 1 MW contracted capacity.

 

Recently, JIRE also received a Letter of Acceptance (LoA) for a 300 MW solar plus storage project from state-owned enterprise NHPC, signalling its expertise in large-scale renewable projects. This project is part of NHPC’s 1200 MW inter-state transmission system (ISTS)-connected solar power initiative, which includes 600 MW/1200 MW energy storage systems.

 

In line with its strategic growth plan, JIRE intends to invest $2.5 billion in the renewable energy sector over the next five years. This investment aims to meet India’s growing energy demand while improving grid stability through advanced battery energy storage systems. Additionally, JIRE is setting up a solar cell and module manufacturing plant in Maharashtra, with a planned annual capacity of 2 GW. The facility is expected to be operational by September 2026. To further strengthen its renewable energy portfolio, JIRE is exploring the expansion of its operational assets across India. This expansion, slated for completion within the next four years, will be funded through internal accruals and debt.

 

With India's renewable energy sector growing rapidly, battery storage technology is becoming essential for grid stability and efficient power management. The Indian battery energy storage system (BESS) market is projected to grow at a CAGR of 11.41% until 2032, driven by the increasing need for round-the-clock renewable power supply.

 

Founded in 1952, BC Jindal Group has expanded from a steel pipe manufacturer into a major player in the power sector. The group currently operates a 1,200 MW thermal power generation unit in Angul, Odisha, and is now focusing on renewable energy through JIRE.