BC Jindal Group announced on Thursday its entry into the renewable energy sector with a substantial investment of $2.5 billion over the next five years. The company, known for its 1,200 MW thermal power plant in Angul, Odisha, is establishing a new entity specifically for its renewable energy initiatives.
The newly formed entity, Jindal India Renewable Energy (JIRE), will spearhead the group’s efforts in renewable power generation and solar cell and module production. JIRE aims to generate 5 GW of power through various sources including solar, wind, hybrid, and floating solar technologies, with a focus on environmental sustainability and decarbonization.
Punit Gupta, Executive Director of JIRE, highlighted the group’s commitment to addressing India’s energy needs. “While traditional energy sources still dominate, we intend to play a significant role in the renewable sector by leveraging our existing power infrastructure,” Gupta stated.
The BC Jindal Group, with an annual turnover exceeding ₹18,000 crore, will oversee this expansion, which includes both power generation and the manufacturing of photovoltaic cells and modules to meet growing solar energy demands. The group, founded in 1952, continues to build on its legacy with this new venture into renewable energy.
BC Jindal Group, established in 1952, is a prominent Indian conglomerate with diversified business interests spanning across various sectors, including packaging films, steel pipes, thermal power generation, and flexible packaging.
The group, known for its pioneering spirit and commitment to innovation, operates multiple manufacturing units in India and abroad, catering to a global clientele. Over the decades, BC Jindal Group has earned a reputation for quality and reliability, continually expanding its footprint in both domestic and international markets. The group’s focus on sustainability and technological advancement has positioned it as a leader in its industries, contributing significantly to India’s industrial growth.
