Latest news with #BCJindalGroup
Time of India
7 days ago
- Business
- Time of India
BC Jindal Group wins 150 MW RTC renewable energy project at Rs 5.07/unit under SECI auction
New Delhi: BC Jindal Group has secured a 150 MW Round-the-Clock (RTC) renewable energy project in a reverse auction conducted by Solar Energy Corporation of India Ltd (SECI), quoting a tariff of Rs 5.07 per unit. The project is part of SECI's 1,200 MW RTC renewable energy capacity tender floated in November 2023. As part of the bid conditions, BC Jindal Group will be responsible for setting up Inter-State Transmission System (ISTS)-connected renewable energy power projects. The scope includes developing transmission networks and establishing interconnection or delivery points with the ISTS network. The group is also tasked with land identification, project installation and ownership, obtaining necessary approvals, and ensuring interconnection for supplying power to DISCOMs tied up through SECI's Power Purchase Agreement (PPA). 'Securing the 150 MW-RTC project after competitive bidding is a reaffirmation of our unflinching commitment to delivering robust and reliable renewable energy solutions. This project win gives a big push to our goal of playing a key role in supporting India's transition to clean energy and assisting the country achieve its renewable energy target of 500 GW by 2030,' a company spokesperson said. Earlier, Jindal India Renewable Energy (JIRE), the group's renewable energy arm, won a 300 MW solar-plus-storage project from SJVN under its 1,200 MW ISTS-connected solar power tender, which includes 600 MW/2,400 MWh battery energy storage systems (BESS). JIRE also received a Letter of Acceptance (LoA) for another 300 MW solar-plus-storage project from NHPC under its 1,200 MW ISTS-connected solar initiative, including 600 MW/1,200 MWh BESS. 'These project wins highlight the Group's capabilities and expertise in implementing crucial projects across solar, wind, hybrid, RTC, and FDRE platforms,' the spokesperson added. The BC Jindal Group plans to invest $2.5 billion in the renewable energy sector by 2030. It is also setting up a solar cell and module manufacturing plant with an annual capacity of 2 GW in Maharashtra, expected to be operational by September 2026. The group is expanding its operational assets across India, with this expansion to be funded through internal accruals and debt.
Time of India
12-05-2025
- Business
- Time of India
Jindal India enters steel section pipes and tubes mkt with Rs 100 cr investment
Kolkata: Jindal (India) Ltd, a part of the conglomerate BC Jindal Group, has ventured into steel section pipes and tubes segment, with an investment of Rs 100 crore to enhance production capacity. The manufacturing of steel section pipes and tubes has already commenced at its Ranihati plant in company, one of the oldest players in the downstream steel product industry, aims to achieve a monthly section pipes and tubes production capacity of 5,000 MT. This is expected to drive revenue of Rs 315 crore in 2026. A spokesperson for the company said they would supply the pipes and tubes to different sectors, including infrastructure, agriculture, railways, warehousing and real 70% of the company's total production consists of coated flat steel products. The company has two manufacturing units in Howrah.
United News of India
12-05-2025
- Business
- United News of India
B C Jindal Group's JIRE bags 300 MW Solar-BESS order from SJVN
Kolkata, May 12 (UNI) B C Jindal Group, one of India's leading business conglomerates with over Rs 18,000 crore turnover, on Monday announced that its renewable energy arm, Jindal India Renewable Energy (JIRE), has won a 300 MW solar plus storage project from state-owned, SJVN. The project is part of SJVN's 1200 MW inter-state transmission system-connected solar power projects tender with 600 MW / 2400 MW of battery energy storage systems (BESS). JIRE won the bid for 300 MW of solar capacity at a tariff of 3.32/kWh. According to the terms, the project will be developed on a build-own-operate basis. The greenfield project must be completed within 24 months from the signing of the power purchase agreement (PPA). Commenting on the announcement, the spokesperson of Jindal India Renewable Energy, said, 'Winning this project reaffirms JIRE's ability to deliver scalable and clean energy solutions. It strengthens the growing trust in our capabilities and reinforces our commitment to delivering firm, clean power that supports India's energy transition. We remain focused on expanding our capacity to 5 GW in the coming years across solar, wind, hybrid, RTC, and FDRE platforms.' SJVN will enter into an agreement with JIRE for a period of 25 years. The Navratna Company will purchase solar power from JIRE and sell it to state utilities and others. As part of the contract, JIRE will have to deploy an ESS of at least 0.5 MW / 2MWh capacity for 1 MW contracted capacity. Recently, JIRE also received a Letter of Acceptance (LoA) for a 300 MW solar plus storage project from state-owned enterprise NHPC, signalling its expertise in large-scale renewable projects. This project is part of NHPC's 1200 MW inter-state transmission system (ISTS)-connected solar power initiative, which includes 600 MW / 1200 MW energy storage systems. In line with its strategic growth plan, JIRE intends to invest USD 2.5 billion in the renewable energy sector over the next five years. This investment aims to meet India's growing energy demand while improving grid stability through advanced battery energy storage systems. Additionally, JIRE is setting up a solar cell and module manufacturing plant in Maharashtra, with a planned annual capacity of 2 GW. The facility is expected to be operational by September 2026. To further strengthen its renewable energy portfolio, JIRE is exploring the expansion of its operational assets across India. This expansion, slated for completion within the next four years, will be funded through internal accruals and debt. With India's renewable energy sector growing rapidly, battery storage technology is becoming essential for grid stability and efficient power management. The Indian battery energy storage system (BESS) market is projected to grow at a CAGR of 11.41 pc until 2032, driven by the increasing need for round-the-clock renewable power supply. Founded in 1952, B C Jindal Group has expanded from a steel pipe manufacturer into a major player in the power sector. The group currently operates a 1,200 MW thermal power generation unit in Angul, Odisha, and is now focusing on renewable energy through JIRE. UNI PC SS
&w=3840&q=100)
Business Standard
12-05-2025
- Business
- Business Standard
BC Jindal Group's JIRE secures 300-MW solar power project from SJVN
The greenfield project must be completed within 24 months from the signing of the power purchase agreement (PPA) Press Trust of India New Delhi BC Jindal Group's renewable energy arm JIRE on Monday said it has secured a 300-MW solar energy project from SJVN Ltd. The project is part of SJVN's 1,200-MW inter-state transmission system-connected solar power projects tender, which also includes 600 MW/2400 MW of battery energy storage systems (BESS), according to a statement. Jindal India Renewable Energy (JIRE) won the 300-MW solar-plus-storage project at a tariff of Rs 3.32/kWh, the company said, adding that he project will be developed on a build-own-operate basis. The greenfield project must be completed within 24 months from the signing of the power purchase agreement (PPA). A spokesperson of JIRE said in the statement, "We remain focused on expanding our capacity to 5 GW in the coming years across solar, wind, hybrid, RTC, and FDRE platforms." SJVN, a public sector Navratna company, will enter into an agreement with JIRE for 25 years to purchase solar power and sell it to state utilities and others. As part of the contract, JIRE will have to deploy an ESS of at least 0.5 MW/ 2MWh capacity for 1 MW contracted capacity. Recently, JIRE also received a Letter of Acceptance (LoA) for a 300-MW solar plus storage project from state-owned NHPC. This project is part of NHPC's 1,200 MW inter-state transmission system (ISTS)-connected solar power initiative, which includes 600 MW/1200 MW energy storage systems. In line with its strategic growth plan, JIRE said it intends to invest USD 2.5 billion in the renewable energy sector over the next five years with an aim to meet India's growing energy demand while improving grid stability through advanced battery energy storage systems. Additionally, JIRE is setting up a solar cell and module manufacturing plant in Maharashtra, with a planned annual capacity of 2 GW. The facility is expected to be operational by September 2026. To further strengthen its renewable energy portfolio, JIRE is exploring the expansion of its operational assets across India. The Indian battery energy storage system (BESS) market is projected to grow at a CAGR of 11.41 per cent until 2032, driven by the increasing need for round-the-clock renewable power supply. Founded in 1952, BC Jindal Group has expanded from a steel pipe manufacturer into a major player in the power sector. With over Rs 18,000 crore of annual turnover, the group currently operates a 1,200 MW thermal power generation unit in Angul, Odisha, and is now focusing on renewable energy through JIRE. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
