BC Jindal Group’s renewable energy subsidiary, Jindal India Renewable Energy (JIRE), has secured a 300 MW solar-plus-storage project from state-run power producer SJVN. The contract is part of SJVN’s 1,200 MW inter-state transmission system (ISTS)-connected solar power tender, which includes 600 MW/2400 MWh of Battery Energy Storage Systems (BESS).
JIRE won the bid at a tariff of ₹3.32 per kWh and will develop the project on a build-own-operate (BOO) basis. The project must be commissioned within 24 months from the signing of the Power Purchase Agreement (PPA), according to the terms of the contract.
A JIRE spokesperson commented on the win, stating, “This project reaffirms JIRE’s ability to deliver scalable and clean energy solutions. It also reinforces the growing trust in our capabilities and our commitment to firm, clean power that supports India’s energy transition. We remain focused on expanding our capacity to 5 GW across solar, wind, hybrid, RTC, and FDRE platforms.”
The agreement between SJVN and JIRE will span 25 years, during which the public sector utility will procure solar energy from JIRE and distribute it to state utilities and other buyers. The contract mandates deployment of an energy storage system of at least 0.5 MW/2 MWh for every 1 MW of contracted capacity.
This win follows JIRE’s recent Letter of Acceptance (LoA) from another state-owned enterprise, NHPC, for a similar 300 MW solar-plus-storage project under its 1,200 MW ISTS-connected initiative.
JIRE is planning to invest $2.5 billion in India’s renewable energy sector over the next five years. As part of this strategy, it is also setting up a 2 GW solar cell and module manufacturing facility in Maharashtra, expected to be operational by September 2026.
In addition, the company is pursuing expansion of its operational renewable assets nationwide, funded through internal accruals and debt, with completion targeted within four years.
With battery storage playing an increasingly vital role in India’s renewable energy landscape, the domestic BESS market is projected to grow at a CAGR of 11.41% through 2032, driven by the need for round-the-clock renewable power and improved grid stability.
Founded in 1952, BC Jindal Group has evolved from a steel pipe manufacturer into a diversified conglomerate with a growing footprint in the power sector. The group currently operates a 1,200 MW thermal power plant in Angul, Odisha, and is actively scaling its presence in renewables through JIRE.
