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Jindal India Renewable Energy, a subsidiary of the BC Jindal Group, announced its entry into the Battery Energy Storage Systems (BESS) market on Wednesday. The company unveiled its plans during the 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST 2024), organized by the Ministry of New and Renewable Energy (MNRE) in partnership with the Confederation of Indian Industry (CII).
Jindal India Renewable Energy plans to establish a 1 GWh battery pack assembly line using lithium iron phosphate (LFP) chemistry by 2025, with a long-term goal of manufacturing battery cells with a 5 GWh capacity by 2027. The company is set to collaborate with a global technology provider to ensure its products meet the highest quality standards, aligning with India’s growing role in renewable energy.
Punit Gupta, Director of Jindal India Renewable Energy, commented on the move: “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.”
The shift into BESS comes as India prioritizes renewable energy to support its green energy goals. Battery storage systems are critical in maintaining grid stability, efficient energy storage, and managing power supply during peak periods, essential for fulfilling India’s renewable energy targets.
With the Indian BESS market projected to grow at a compound annual growth rate (CAGR) of 11.41% until 2032, the sector presents significant opportunities for companies like Jindal India Renewable Energy. This expansion supports the company’s broader ambition to generate 5 GW of power from solar, wind, hybrid, and renewable sources, while also manufacturing photovoltaic (PV) cells and modules to meet rising solar demand.
Originally a steel pipe and fittings manufacturer, the BC Jindal Group has evolved into a leading Indian conglomerate with a growing presence in the power sector, further solidifying its role in the country’s renewable energy transformation. |
