BC Jindal Group has announced its foray into India’s renewable sector today with plans to invest around $2.5 billion in this sector in the next five years. The Group has an existing portfolio of 1,200 MW thermal power generation in Angul, Odisha, and has floated a dedicated entity, Jindal India Renewable Energy, for the renewable venture of the group. This entity will oversee the renewable power generation and solar cells and module manufacturing businesses.
Jindal India Renewable Energy aims to generate 5 GW of power from solar, wind, hybrid and FDRE modes. It will also manufacture PV cells and modules to tap into the solar demand.
Shyam Jindal, BC Jindal Group, said, “Our aim is to generate 5 GW power from solar, wind, hybrid and FDRE modes. As India aims to install 500 GW of renewable energy capacity by 2030, Jindal India Renewable Energy’s entry into this segment will give a boost to this mission. Our foray into the renewable sector is an evolution towards a green and sustainable future.’
Punit Gupta, executive director, Jindal India Renewable Energy, said, To address India’s current energy requirement, brown energy is still dominant. As technology improves in this sector and demand increases, we aim to act as a key player in the renewable energy sector by leveraging the strength of our existing power company. This will enhance our energy security, ensuring a stable power supply for our operations.”
B.C. Jindal Group, with a culturally diverse workforce across India, USA, and Europe, employs more than 10,000 people and has been offering a wide range of products and solutions since 1952. The Group has presence in flexible packaging films, energy generation and downstream steel products.
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