Jindal India Renewable Energy (JIRE), the renewable energy division of the BC Jindal Group, has been awarded a 300-MW solar power project by SJVN Ltd. The project is part of SJVN’s 1,200-MW inter-state transmission system (ISTS)-connected solar tender, which also includes 600 MW/2400 MWh of battery energy storage systems (BESS).
JIRE won the contract at a tariff of ₹3.32 per kilowatt-hour and will develop the solar-plus-storage project on a build-own-operate basis. The greenfield installation must be completed within 24 months from the execution of the power purchase agreement (PPA), which will span 25 years.
Under the project terms, JIRE is required to integrate an energy storage system of at least 0.5 MW/2 MWh for every megawatt of contracted capacity. This initiative aligns with JIRE’s broader goal to expand its renewable energy footprint to 5 GW, including solar, wind, hybrid, round-the-clock (RTC), and firm dispatchable renewable energy (FDRE) platforms.
In addition to the SJVN award, JIRE recently received a Letter of Acceptance from NHPC for another 300-MW solar-plus-storage project under a similar 1,200-MW ISTS initiative, which also includes substantial energy storage components. As part of its long-term strategy, JIRE plans to invest USD 2.5 billion over the next five years in renewable energy infrastructure and battery energy storage systems.
The company is also setting up a solar cell and module manufacturing plant in Maharashtra, with an annual capacity of 2 GW. The facility is expected to be operational by September 2026. With the Indian battery energy storage market projected to grow at a compound annual growth rate of 11.41 per cent through 2032, JIRE is positioning itself to meet rising demand for continuous and reliable clean power.
Established in 1952, the BC Jindal Group has evolved from steel pipe manufacturing to become a diversified industrial conglomerate. With an annual turnover exceeding ₹18,000 crore, the group currently operates a 1,200 MW thermal power plant in Angul, Odisha, and is expanding aggressively in the renewable energy space through JIRE.
