BC Jindal Group’s renewable energy arm Jindal India Renewable Energy (JIRE) has received the Letter of Acceptance (LoA) for 300 MW solar with 150 MW/300 MWh battery energy storage system (BESS) from state-owned hydropower producer NHPC. It secured the project in NHPC’s tender for 1,200 MW of inter-state transmission system-connected solar projects with 600 MW/1200 MWh energy storage systems by quoting a tariff of INR 3.09/kWh.
JIRE will develop the solar project on a build-own-operate basis. The green-field project is scheduled for completion within 24 months from signing of the power purchase agreement (PPA). As part of the contract, JIRE will deploy a BESS of at least 0.5 MW/ 1 MWh capacity for every 1 MW contracted capacity.
Initially, JIRE had won 180 MW capacity of the solar-BESS project from NHPC. The company was awarded an additional capacity of 120 MW under Greenshoe option of the tender, taking JIRE’s total project capacity to 300 MW.
NHPC will enter into an agreement with JIRE for a period of 25 years. The solar power purchased from JIRE will be sold to state utilities and other consumers.
JIRE oversees BC Jindal Group’s renewable power generation, solar cells and module manufacturing businesses.
In 2025-26, JIRE is looking to strategically expand its capacity portfolio by acquiring key operational assets within the country and across geographies. The company is actively pursuing acquisitions of operational assets both domestically and abroad. These acquisitions are anticipated to be finalised in 1-2 years and will be funded through a mix of internal accruals and debt.
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