Jindal Arm Wins Rs 22 Bn Solar-Storage Project
POWER & RENEWABLE ENERGY

Jindal Arm Wins Rs 22 Bn Solar-Storage Project

BC Jindal Group, one of India’s leading business conglomerates with a turnover exceeding Rs 180 billion, announced that its renewable energy subsidiary, Jindal India Renewable Energy (JIRE), has secured a 300 MW solar-plus-storage project from state-owned SJVN.

The project, part of SJVN’s 1,200 MW ISTS-connected solar tender with 600 MW/2,400 MWh battery energy storage systems (BESS), will be developed on a build-own-operate basis. JIRE won the bid at a tariff of Rs 3.32/kWh, and must commission the project within 24 months of signing the power purchase agreement (PPA).

SJVN will procure power from JIRE for 25 years, with the energy sold to state utilities. The terms mandate deployment of a 0.5 MW/2 MWh BESS for every 1 MW of contracted capacity.

This win follows a recent Letter of Acceptance from NHPC for a similar 300 MW solar plus storage project, reinforcing JIRE’s position in large-scale renewables.

JIRE plans to invest USD 2.5 billion (approx. Rs 208 billion) in clean energy over the next five years, targeting 5 GW capacity across solar, wind, hybrid, RTC, and FDRE platforms. It is also setting up a 2 GW solar cell and module manufacturing facility in Maharashtra, expected to go live by September 2026.

To support India’s energy transition, JIRE’s strategic focus includes expanding operational assets nationwide, funded through internal accruals and debt. Battery energy storage, a key enabler for grid reliability and round-the-clock power, is set to grow at a CAGR of 11.41 per cent through 2032.

Founded in 1952, the BC Jindal Group evolved from a steel pipe manufacturer to a major energy player, operating a 1,200 MW thermal unit in Odisha and now scaling its renewable ambitions through JIRE.

BC Jindal Group, one of India’s leading business conglomerates with a turnover exceeding Rs 180 billion, announced that its renewable energy subsidiary, Jindal India Renewable Energy (JIRE), has secured a 300 MW solar-plus-storage project from state-owned SJVN.The project, part of SJVN’s 1,200 MW ISTS-connected solar tender with 600 MW/2,400 MWh battery energy storage systems (BESS), will be developed on a build-own-operate basis. JIRE won the bid at a tariff of Rs 3.32/kWh, and must commission the project within 24 months of signing the power purchase agreement (PPA).SJVN will procure power from JIRE for 25 years, with the energy sold to state utilities. The terms mandate deployment of a 0.5 MW/2 MWh BESS for every 1 MW of contracted capacity.This win follows a recent Letter of Acceptance from NHPC for a similar 300 MW solar plus storage project, reinforcing JIRE’s position in large-scale renewables.JIRE plans to invest USD 2.5 billion (approx. Rs 208 billion) in clean energy over the next five years, targeting 5 GW capacity across solar, wind, hybrid, RTC, and FDRE platforms. It is also setting up a 2 GW solar cell and module manufacturing facility in Maharashtra, expected to go live by September 2026.To support India’s energy transition, JIRE’s strategic focus includes expanding operational assets nationwide, funded through internal accruals and debt. Battery energy storage, a key enabler for grid reliability and round-the-clock power, is set to grow at a CAGR of 11.41 per cent through 2032.Founded in 1952, the BC Jindal Group evolved from a steel pipe manufacturer to a major energy player, operating a 1,200 MW thermal unit in Odisha and now scaling its renewable ambitions through JIRE.

Next Story
Real Estate

Mahindra Lifespace Buys 9 Acre Plot in Bengaluru for Rs 2 Bn

Mahindra Lifespace Developers Ltd has purchased Shreyas Stones Pvt Ltd, which owns an 8.79 acre parcel at Navaratna Agrahara in North Bengaluru, for approximately Rs 2.0 billion. The share purchase agreement transfers one hundred per cent of SSPL’s equity—10,000 shares of Rs 10 each—to Mahindra Lifespace.The site will be integrated with an adjacent Mahindra holding, creating a unified premium housing scheme with a projected gross development value of about Rs 21.0 billion. On its own, the newly acquired plot is expected to generate roughly Rs 11.0 billion in sales..

Next Story
Real Estate

Rustomjee Wins Rs 45 Billion GTB Nagar Redevelopment

Keystone Realtors Ltd, the Bengaluru based developer behind the Rustomjee brand, has secured a Letter of Acceptance to overhaul GTB Nagar in Sion, Mumbai, in partnership with the Maharashtra Housing and Area Development Authority (MHADA). Occupying about 11.19 acres, the project will rehouse more than 1,400 families and unlock roughly 2.07 million square feet of saleable area.Keystone estimates the scheme’s gross development value at about Rs 45.21 billion, with free saleable space expected to generate over Rs 45 billion in revenue. The redevelopment underscores the com..

Next Story
Real Estate

Prestige Unveils Rs 33.5 Billion Pallavaram Gardens

Bengaluru‑based developer Prestige Group has launched Prestige Pallavaram Gardens, a large residential community on Chennai’s Pallavaram–Thoraipakkam Radial Road. With a gross development value of about Rs 33.5 billion, the 21.84‑acre scheme is set to become a marquee address in the fast‑growing corridor. The master plan provides 2,069 premium homes across 2‑, 3‑ and 4‑bedroom layouts, offering a combined saleable area of roughly 3.1 million square feet. Residents will benefit from easy access to key transport arteries and major employment hubs along th..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?