Jindal India Renewable Energy, a part of the BC Jindal Group, has announced its foray into battery energy storage systems (BESS). The company plans to build 1 GWh lithium ferro phosphate (LFP) battery pack assembly line by 2025 and foray into battery cell manufacturing with 5 GWh capacity by 2027.
The company said it will enter into technology collaboration with a world-class technology provider to achieve highest quality standards.
BESS help stabilize grid as the share of renewable energy sources increases in the power mix. These absorb surplus energy generated during the sunny days and release the stored energy back into the grid when required, ensuring power supply during peak periods and fulfilling round-the-clock supply demand. The Indian BESS market is expected to grow at an impressive CAGR of 11.41% till 2032, underscoring the significant opportunities that this sector presents.
This announcement comes in the backdrop of Jindal India Renewable Energy (JIRE) aiming to generate 5 GW of power from solar, wind, hybrid and FDRE modes. Along with this, going forward JIRE will also manufacture PV cells and modules to tap into the solar demand.
Jindal India Renewable Energy operates under the $2.5 billion BC Jindal Group. Originally a steel pipe and fittings manufacturer, the group has grown into one of India’s leading conglomerates with a significant presence in the power sector. Established in 1952, the group has a diverse workforce of more than 10,000 people across India, Europe and the US. Key business verticals include flexible packaging films, energy generation and downstream steel products.
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