close
close

Jindal India Renewable Energy expands into battery storage systems

Posted on by darion

Jindal India Renewable Energy, a BC Jindal Group subsidiary, on Wednesday announced the launch of its operations in the battery energy storage systems (BESS) market.

The company will showcase its upcoming ventures at the fourth Global Renewable Energy Investors Meeting and Trade Fair (RE-INVEST 2024), organized by the Ministry of New and Renewable Energy (MNRE) in partnership with CII.

The company plans to build a 1 GWh battery assembly line with LFP technology by 2025 and begin production of 5 GWh battery cells by 2027.

To achieve this, the company will partner with a world-class technology supplier to meet the highest quality standards. The move is in line with India’s efforts to strengthen its position as one of the leading players in the global renewable energy market.

  • Read also: Jindal Steel is betting on green hydrogen

Jindal India’s Director of Renewable Energy, Punit Gupta, said, “By investing in battery energy storage systems, we are expanding our portfolio and also contributing to grid stability and deeper integration of renewable energy sources.”

Currently, this sector is witnessing rapid growth due to the policy emphasis on renewable energy sources to enable the government to move towards a greener future. BESS as a technology enables grid stability, efficient storage and most importantly, solves the power problem during peak periods and meets the demand of FDRE/RTC. 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 through 2032, underlining the significant opportunities that this sector presents.

The announcement comes against the backdrop of Jindal India Renewable Energy (JIRE), which aims to generate 5 gigawatts (GW) of power from solar, wind, hybrid and FDRE modes. In addition, JIRE will also manufacture photovoltaic cells and modules to tap the demand for solar energy.

Jindal India Renewable Energy operates under the BC Jindal Group. Initially a manufacturer of steel pipes and fittings, the group has grown into one of India’s leading conglomerates with a significant presence in the energy sector.