Jindal India Renewable Energy (JIRE), the renewable energy arm of the BC Jindal Group, has secured a contract to develop a 300-megawatt (MW) solar power project from SJVN Ltd.
This project is part of SJVN’s larger solar tender, which totals 1,200 MW and is connected through the inter-state transmission system (ISTS). The tender also includes 600 MW of battery energy storage systems (BESS) with a capacity of 2,400 megawatt-hours (MWh).
JIRE won the project with a tariff of ₹3.32 per kilowatt-hour. The company will build, own, and operate the solar-plus-storage facility. The installation is new (greenfield) and must be completed within 24 months after signing the power purchase agreement (PPA), which will last 25 years.
According to the contract, JIRE must install an energy storage system with at least 0.5 MW capacity and 2 MWh storage for every megawatt of solar power. This project supports JIRE’s plan to increase its renewable energy capacity to 5 gigawatts (GW). Their portfolio includes solar, wind, hybrid, round-the-clock (RTC), and firm dispatchable renewable energy (FDRE) projects.
Besides the SJVN contract, JIRE recently received a Letter of Acceptance from NHPC for another 300-MW solar-plus-storage project. This project is also part of a 1,200-MW ISTS-connected initiative with significant battery storage.
JIRE plans to invest USD 2.5 billion over the next five years in renewable energy and battery storage infrastructure. The company is also building a solar cell and module manufacturing plant in Maharashtra. This plant will have a 2-GW annual production capacity and is expected to start operating by September 2026.
With India’s battery energy storage market expected to grow at an 11.41% compound annual growth rate until 2032, JIRE aims to meet the rising demand for stable, clean power.
The BC Jindal Group, founded in 1952, began as a steel pipe manufacturer. Today, it is a diversified industrial group with an annual turnover of over ₹18,000 crore. The group runs a 1,200 MW thermal power plant in Angul, Odisha, and is expanding rapidly in renewables through JIRE.
