BC Jindal Group, one of India’s top business conglomerates with a turnover of over Rs. 18,000 crore, has announced that its renewable energy division, Jindal India Renewable Energy (JIRE), has won a 300 MW solar-plus-storage project from state-owned SJVN. This project is part of SJVN’s 1200 MW inter-state transmission system-connected solar power tender, which includes 600 MW of battery energy storage systems (BESS). JIRE won the bid for 300 MW at a tariff of ₹3.32/kWh, and the project will be developed on a build-own-operate basis. The project must be completed within 24 months from the signing of the Power Purchase Agreement (PPA).

SJVN will enter into a 25-year agreement with JIRE, purchasing solar power to sell to state utilities and other buyers. As per the agreement, JIRE will also deploy an energy storage system (ESS) with a minimum capacity of 0.5 MW/2MWh per 1 MW of contracted capacity. Recently, JIRE also received a Letter of Acceptance (LoA) for a similar 300 MW solar-plus-storage project from NHPC, further highlighting its expertise in large-scale renewable energy projects.

As part of its growth strategy, JIRE plans to invest \$2.5 billion in the renewable energy sector over the next five years. This investment will help meet India’s growing energy demand and enhance grid stability through advanced battery storage technology. JIRE is also building a solar cell and module manufacturing plant in Maharashtra with a capacity of 2 GW per year, set to be operational by September 2026. Additionally, JIRE is expanding its renewable energy assets across India, with this expansion funded through internal funds and debt.

The spokesperson of Jindal India Renewable Energy, said in a statement, “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.”

With the rapid growth of India’s renewable energy sector, battery storage is crucial for maintaining grid stability and managing power efficiently. The battery energy storage system (BESS) market in India is expected to grow at a CAGR of 11.41% until 2032, driven by the need for reliable renewable energy supply. BC Jindal Group, founded in 1952, has grown from a steel pipe manufacturer to a key player in the power sector, now focusing heavily on renewable energy through JIRE.