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Jindal India Renewable Energy, part of the BC Jindal Group, said on Wednesday that it is foraying into Battery Energy Storage Systems (BESS).
The company is showcasing its upcoming ventures at the 4th Global Renewable Energy Investors Meet & Expo (RE-INVEST 2024), organised by the Ministry of New and Renewable Energy (MNRE) in partnership with CII.
The company plans to build a 1 GWh battery pack assembly line with LFP chemistry by 2025 and enter battery cell manufacturing with a 5 GWh capacity by 2027.
To achieve this, the company will enter into a technology collaboration with a world-class provider to meet the 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.
- Also read: Jindal Steel bets big on green hydrogen
Jindal India Renewable Energy Director Punit Gupta said, “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.”
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 fulfils the FDRE/RTC demand. It is expected to power India’s renewable energy aspirations.
The Indian BESS market is expected to grow at an impressive CAGR of 11.41 per cent till 2032, underscoring the significant opportunities that this sector presents.
This announcement comes against the backdrop of Jindal India Renewable Energy (JIRE) aiming to generate 5 gigawatts (GW) of power from solar, wind, hybrid, and FDRE modes. Additionally, JIRE will also manufacture PV cells and modules to tap into solar demand.
Jindal India Renewable Energy operates under the BC Jindal Group. 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.
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