Jindal India Renewable Energy (JIRE), the green energy arm of the BC Jindal Group, has won a 300 MW solar-plus-storage project from the state-owned hydropower giant SJVN. The project is part of SJVN’s ambitious 1200 MW inter-state transmission system (ISTS)-connected solar initiative, which also includes a robust battery energy storage component of 600 MW/2400 MWh.
JIRE emerged successful in the competitive bidding with a quoted tariff of ₹3.32/kWh. The project will be developed on a build-own-operate (BOO) basis and is expected to be commissioned within 24 months from the signing of the Power Purchase Agreement (PPA). Once operational, JIRE will supply solar power to SJVN for a period of 25 years, after which the latter will distribute the power to various state utilities and consumers.
As part of the agreement, JIRE will be required to install battery energy storage systems (BESS) of at least 0.5 MW/2 MWh for every 1 MW of solar capacity, reinforcing the critical role of energy storage in India’s evolving power infrastructure.
A spokesperson for JIRE expressed confidence in the company’s capabilities, stating, “Winning this project reaffirms JIRE’s ability to deliver scalable and clean energy solutions. It strengthens the growing trust in our capabilities and reinforces our commitment to delivering firm, clean power that supports India’s energy transition.”
This latest win comes on the heels of another major success for JIRE receiving a Letter of Acceptance (LoA) for a separate 300 MW solar-plus-storage project from NHPC, under its own 1200 MW ISTS-connected tender.
In line with its strategic growth roadmap, JIRE is set to invest $2.5 billion in renewable energy over the next five years. The company aims to scale up its portfolio to 5 GW through a diversified mix of solar, wind, hybrid, round-the-clock (RTC), and firm and dispatchable renewable energy (FDRE) projects.
Additionally, JIRE is in the process of establishing a state-of-the-art solar cell and module manufacturing plant in Maharashtra with an annual capacity of 2 GW. The facility is expected to be operational by September 2026, marking the company’s entry into the manufacturing side of the clean energy value chain.
With the Indian BESS market projected to grow at a CAGR of 11.41% until 2032, driven by the increasing demand for round-the-clock renewable energy and improved grid stability, JIRE’s strategic moves position it as a formidable player in India’s green energy revolution.
