BC Jindal Group enters RE sector with USD 2.5-bln investment

BC Jindal Group has announced its entry into India’s renewable energy sector with a substantial investment of USD 2.5 billion over the next five years. This strategic move marks a significant shift from the Group's current focus on thermal power generation, where it operates a 1,200 MW facility in Angul, Odisha. To spearhead this new venture, the Group has established a dedicated entity, Jindal India Renewable Energy (JIRE), to manage its renewable energy projects.

JIRE aims to develop a diverse portfolio of renewable energy projects, targeting a total generation capacity of five gigawatts (GW) from solar, wind, hybrid, and floating solar technologies. This ambitious plan aligns with global decarbonization goals and reflects the Group's commitment to contributing to a more sustainable energy future. The investment will not only bolster India’s renewable energy infrastructure but also support the country’s broader environmental and climate objectives.

With a turnover exceeding ₹18,000 crore, BC Jindal Group’s foray into renewable energy underscores its strategic intent to diversify its energy assets and reduce its carbon footprint. The new investments will encompass both power generation and the manufacturing of solar cells and modules, positioning the Group as a significant player in the renewable energy sector.

This expansion into renewable energy is in line with a growing corporate trend toward sustainability. By investing in clean energy technologies, BC Jindal Group aims to drive technological advancements, create job opportunities, and support the transition to greener energy sources. The move also reflects a broader industry shift towards reducing carbon emissions and enhancing environmental stewardship.

Overall, BC Jindal Group’s entry into the renewable energy sector represents a major development in India's energy landscape. The planned investment and the establishment of JIRE are poised to make a substantial impact on both the Group’s portfolio and the country’s renewable energy goals.

News by Rahul Yelligetti