BC Jindal Group has announced that its renewable energy arm, Jindal India Renewable Energy (JIRE), is actively pursuing acquisitions of operational renewable energy assets both domestically and abroad. This is in line with the company’s goal to expand its capacity to 5 GW within the next four years. These acquisitions are anticipated to be finalised in one-two years and will be funded through a mix of internal accruals and debt.
JIRE aims to generate 5 GW of power from solar, wind, hybrid, hydro and FDRE modes. To achieve this, it is focused on the acquisition of operational portfolio in the initial couple of years. In parallel, JIRE will establish its presence in renewable energy-rich states by developing renewable projects connected to Central and State Transmission Utilities to meet the energy demands of utilities as well commercial and industrial (C&I) customers.
Amit Kumar Mittal, CEO, Jindal India Renewable Energy, said, “In 2025-26, we are looking to strategically expand our capacity portfolio by acquiring key operational assets within the country and across geographies. JIRE seeks to enhance its play in the RE segment which will increasingly throw up huge opportunities as India’s energy mix undergoes a fundamental transition. For JIRE, these acquisitions will be crucial in shaping the growth trajectory of the company in the coming years.”
The $2.5 billion B.C. Jindal Group has presence across flexible packaging films, energy generation and downstream steel products. With an existing portfolio of 1.2 GW thermal power generation in Angul, Odisha, the Group had recently floated its dedicated renewable venture, JIRE, to oversee the renewable power generation, solar cells and module manufacturing businesses.
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