BC Jindal plans to invest $1.7B in making components for RE sector

India’s BC Jindal Group has pledged to invest INR 150 billion (about USD 1.7 billion) over the next five years in making components for the renewable energy sector. The group said it plans to diversify its business and start manufacturing solar cells and modules, storage battery cells, and assembly and solar glass.

To kickstart the ambitious venture, the company will invest INR 40 billion (about USD 465 million) in setting up 2 GW of solar cell manufacturing/solar module production, 4 GWh of battery storage capacity, and a solar glass manufacturing unit with a capacity of 1,200 tonnes per day, the company said, according to a report by news agency PTI . The conglomerate said it had shortlisted the western states of Maharashtra and Gujarat to set up production facilities for renewable energy equipment manufacturing. Recently, the group’s renewable arm, Jindal India Renewable Energy (JIRE), bagged a 300 MW solar-plus-battery energy storage project (BESS) from India’s state-run renewable company NHPC.



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