Jindal India Renewable Energy Forays into Battery Storage Space

Jindal India Renewable Energy, part of the BC Jindal Group, on Wednesday announced its foray into battery energy storage systems (BESS) space.

The company plans to build 1 GWh battery pack assembly line with LFP (lithium iron phosphate) chemistry by 2025 and will foray into battery cell manufacturing with 5 GWh capacity by 2027, according to a statement.

To achieve this, the company will enter into a technological collaboration with a world-class technology provider.

The move aligns with India's efforts to strengthen its position as one of the top renewable energy players in the world. Currently, the sector is witnessing rapid growth due to policy emphasis on renewables to enable the government's push towards a greener future, it said.

BESS as a technology enables grid stability and efficient storage. It addresses the issue of power supply during peak periods.

The Indian BESS market is expected to grow at an impressive Compound Annual Growth Rate (CAGR) of 11.41 per cent till 2032, underscoring the significant opportunities that this sector presents, it stated.

Punit Gupta, Director, Jindal India Renewable Energy, said in the statement, "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."

JIRE aims to generate 5 GW of power from solar, wind, hybrid and FDRE (Firm and Dispatchable Renewable Energy) modes. Along with this, JIRE will also manufacture photovoltaic cells and modules to tap into the solar demand.

Jindal India Renewable Energy operates under the BC Jindal Group, founded in 1952 by Shri B C Jindal. 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.