Bengaluru, 18 September 2024: Jindal India Renewable Energy, a part of the BC Jindal Group, announced its foray into the Battery Energy Storage Systems (BESS). The company plans to build 1 GWh battery pack assembly line with LFP chemistry by 2025 and will foray into battery cell manufacturing with 5 GWh capacity by 2027.
To achieve this, the company will be entering into a Technology Collaboration with a world-class technology provider to achieve highest quality standards. This move aligns with India’s efforts to strengthen its position as one of the top renewable energy players in the world.
Currently, the sector is witnessing rapid growth due to policy emphasis on renewables to enable the Government’s push towards a greener future BESS as a technology enables grid stability, efficient storage and most importantly, addresses the issue of power supply during peak periods and to fulfil the FDRE / RTC demand, and is expected to power India’s renewable energy aspirations.
The Indian BESS market is expected to grow at an impressive CAGR of 11.41 pct till 2032, underscoring the significant opportunities that this sector presents.
Speaking on the development, Mr. Punit Gupta, Director, Jindal India Renewable Energy said, “Jindal India Renewable Energy is proud to step in and meet the growing demand for India’s energy storage solutions. By investing in battery energy storage systems, we are expanding our portfolio as well as contributing to grid stability and deeper integration of renewable sources.”
This announcement comes in the backdrop of Jindal India Renewable Energy (JIRE) aiming to generate 5 GW of power from solar, wind, hybrid and FDRE modes. Along with this, going forward JIRE will also manufacture PV Cells and Modules to tap into the solar demand.
Jindal India Renewable Energy operates under the BC Jindal Group, founded in 1952 by Shri B.C. Jindal. Originally a steel pipe and fittings manufacturer, the group has grown into one of India’s leading conglomerates with a significant presence in the power sector. JIRE’s initiative represents a forward-thinking approach to energy diversification.
With a focus on environmental well-being at the core of its inception, BC Jindal Group’s commitment extends beyond compliance to a genuine dedication to preserving the environment for future generations.
