Jupiter Electric Mobility Pvt Ltd (JEM Energy), a subsidiary of Jupiter Wagons Limited, has signed strategic Memorandums of Understanding with Chalukya Power and Pickrenew Energy to strengthen its position in India’s rapidly expanding Battery Energy Storage System (BESS) sector. The agreements add 110 MWh of BESS business to the company’s orderbook for FY 2026-27, covering both utility-scale and commercial and industrial (C&I) energy storage deployments.
With these additions, JEM Energy’s BESS orderbook has crossed Rs 150 crore, including ongoing engagements with renewable energy developers and public sector clients such as Power Grid Corporation of India Limited. The company is now targeting a combined battery and BESS orderbook of Rs 200 crore during FY 2026-27, reflecting growing demand for domestically developed energy storage solutions across India’s renewable energy ecosystem.
The MoUs represent a significant step in JEM Energy’s strategy to establish itself as a leading indigenous provider of integrated BESS solutions. The projects will support applications ranging from renewable energy integration and grid stability to industrial energy management systems aimed at improving operational efficiency and reliability.
India’s energy storage market is witnessing rapid growth as the country accelerates renewable energy deployment and grid modernization initiatives. Government policies mandating four-hour storage systems alongside new renewable energy projects, along with the Viability Gap Funding scheme for standalone BESS projects, are creating substantial long-term opportunities for the sector.
Looking ahead, JEM Energy has set a target of generating more than Rs. 500 crore in revenue from its battery and BESS vertical by FY 2027-28. The company also expects the business to achieve EBITDA positivity during the same period as operational scale and execution capabilities continue to strengthen. Over the longer term, the company has outlined an ambitious goal of achieving Rs. 1,000 crore in revenue from its battery and energy storage business by FY 2029-30.
Vivek Lohia said the agreements with Chalukya Power and Pickrenew Energy reflect growing industry confidence in JEM Energy’s technology capabilities and execution strength. He noted that the company’s expanding orderbook demonstrates increasing trust in indigenous energy storage providers and reinforces Jupiter Wagons’ commitment to building long-term leadership in the BESS sector.
Kartik Hajela said the partnerships mark the beginning of long-term collaborations with leading renewable energy developers. He added that the company remains focused on delivering reliable and high-quality energy storage solutions while scaling operations to meet India’s growing clean energy requirements.
Jupiter Electric Mobility Pvt Ltd, a subsidiary of Jupiter Wagons Limited (JWL), focuses on advancing electric vehicles and energy storage products tailored for commercial and industrial applications. Specializing in electric trucks, light commercial vehicles, and energy storage, JEM is committed to promoting eco-friendly transport and power solutions. Leveraging Jupiter Wagons’ long-standing expertise in railways and infrastructure, JEM is well-positioned to lead India’s electric mobility and clean energy revolution.
Jupiter Wagons Limited, with over 40 years of experience, offers comprehensive mobility products including freight wagons, locomotives, commercial vehicles, and specialized components. With manufacturing facilities across multiple Indian cities and partnerships with leading global firms, JWL serves sectors such as railways, automotive, logistics, energy, mining, and infrastructure. The company’s clients include Indian Railways, American railroads, Ministry of Defence, BEML, Alstom, Tata Motors, and others.
