The BC Jindal Group, one of India’s leading conglomerates with an annual turnover exceeding ₹18,000 crore, has officially entered the renewable energy sector, announcing a significant investment of approximately $2.5 billion over the next five years. This bold move is part of the group’s strategic plan to contribute to India’s growing renewable energy landscape.
The group, which already operates a 1,200 MW thermal power plant in Angul, Odisha, has established a new entity—Jindal India Renewable Energy (JIRE)—to spearhead its renewable energy ambitions. This new venture will focus on generating 5 GW of power through solar, wind, hybrid, and Floating and Distributed Renewable Energy (FDRE) modes. Additionally, JIRE will engage in the manufacturing of photovoltaic (PV) cells and modules to meet the rising demand for solar energy solutions in India.
“In line with India’s ambitious renewable energy goals, our aim is to generate 5 GW of power from various renewable sources,” said Shyam Jindal, a senior official of the BC Jindal Group. “As India aims to install 500 GW of renewable energy capacity by 2030, JIRE’s entry into this sector will significantly contribute to achieving this national milestone. Our foray into the renewable sector is an evolution towards a green and sustainable future.”
The BC Jindal Group’s venture into renewables aligns with India’s broader commitment to sustainable energy. India currently ranks fourth globally in the addition of renewable energy capacities, and also holds the fourth and fifth positions for wind and solar power capacities, respectively. This makes the country one of the global leaders in renewable energy deployment.
Punit Gupta, Executive Director of JIRE, highlighted the importance of this initiative in the context of India’s current energy scenario. “Brown energy still dominates India’s energy supply. However, as technology in the renewable sector advances and demand for green energy grows, JIRE aims to emerge as a key player, leveraging the strength of our existing power generation capabilities. This will not only enhance our energy security but also ensure a stable power supply for our operations,” Gupta said.
The BC Jindal Group, which was founded in 1952 by BC Jindal, initially started as a steel pipe and fittings manufacturer and has since expanded into various sectors, including power. The establishment of JIRE marks a significant step in the group’s evolution, particularly given its longstanding involvement in the energy sector.
