Jindal India Renewable Energy announces foray into battery storage space

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Jindal India Renewable Energy (JIRE) , part of the BC Jindal Group, on September 18,  announced its foray into the Battery Energy Storage Systems (BESS) with plans to build  1 GWh ( gigawatt hour) battery pack assembly line with LFP (Lithium iron phosphate) chemistry by 2025. The company  said it aims  to become an end-to-end player in Energy Storage Systems by 2027 with 5 GWh capacity.

The move comes amid the company's plans to generate 5 GW of power from solar, wind, hybrid and FDRE modes. Along with this, JIRE will also manufacture PV Cells and Modules to tap into the solar demand,according to the statement.

India had a cumulative installed Battery Energy Storage System (BESS) capacity totaling 219.1 MWh as of March 2024, according to India's Energy Storage Landscape report by Mercom India Research. Capacity installations in Ql 2024 totaled 120 MWh (40 MW).

To meet the demand for efficient energy utilization from renewable sources, various government agencies have issued tenders totaling 57 GW and auctioned 11.5 GW of energy storage projects, with or without renewable energy capacities, as of March 2024, according to Mercom report.

"Jindal India Renewable Energy is proud to step in and meet the growing demand for India’s energy storage solutions. 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," said Punit Gupta, Director, Jindal India Renewable Energy.

The company announced plans to collaborate with a "world-class technology provider" for the project, though it did not disclose the partner's name. The Indian BESS market is expected to grow at an impressive CAGR of 11.41 pct till 2032, underscoring the significant opportunities that this sector presents. the company added.