BC Jindal Group, one of India’s leading conglomerates with a turnover exceeding Rs 18,000 crore, announced its strategic entry into the renewable energy sector today. The group plans to invest approximately $2.5 billion over the next five years.
Already a major player in the power sector with a 1,200 MW thermal power plant in Angul, Odisha, BC Jindal Group has established a new entity, Jindal India Renewable Energy (JIRE), to spearhead its renewable energy initiatives. This entity will manage the group’s ventures in renewable power generation, as well as solar cells and module manufacturing.
Ambitious Renewable Energy Goals
Jindal India Renewable Energy aims to generate 5 GW of power through a mix of solar, wind, hybrid, and FDRE (Firm and Dispatchable Renewable Energy) technologies. This initiative aligns with India’s national goal of installing 500 GW of renewable energy capacity by 2030, contributing to the country’s efforts to reduce carbon emissions and promote sustainable development.
In addition to power generation, JIRE will focus on manufacturing photovoltaic (PV) cells and modules to meet the growing demand for solar energy solutions in India. The company’s entry into the renewable sector reflects the BC Jindal Group’s commitment to environmental sustainability and its strategic vision to build a state-of-the-art renewable energy portfolio.
Leadership Perspectives
Shyam Jindal, a key leader of the BC Jindal Group, said, “In line with India’s renewable energy goals, our aim is to generate 5 GW of power from solar, wind, hybrid, and FDRE modes. As India works towards installing 500 GW of renewable energy capacity by 2030, Jindal India Renewable Energy’s entry into this sector will provide significant momentum to this mission.”
Punit Gupta, Executive Director of Jindal India Renewable Energy, stated, “While brown energy remains dominant in meeting current energy requirements, advancements in technology and increasing demand present a significant opportunity for renewable energy.”