Jupiter Wagons Limited's subsidiary JEM Energy announced formal MoUs with Chalukya Power and Pickrenew Energy for Battery Energy Storage System (BESS) projects. These agreements add 110 MWh to JEM Energy's orderbook for FY 2026-27, bringing the total to Rs 150+ Crore. The company aims to reach Rs 200 Crore in combined BESS orders this fiscal year.
The MoUs cover Utility-scale projects for grid stability and Commercial and Industrial (C&I) deployments. This expansion reflects growing demand for energy storage solutions as India accelerates renewable energy integration. JEM Energy's technical capabilities and execution track record have attracted major developers.
JEM Energy's FY 2026-27 target of Rs 200 Crore in BESS orders its strategic positioning in India's energy storage sector. The company plans to scale to Rs 500+ Crore revenue in this vertical by FY 2027-28. This growth is supported by government policies like the 4-hour storage mandate for renewables and Viability Gap Funding for BESS projects.
Mr. Vivek Lohia, Managing Director of Jupiter Wagons Limited, highlighted the significance of these agreements. He stated that the Rs 150+ Crore orderbook the trust Indian developers place in JEM Energy as an indigenous partner. The company remains committed to achieving its Rs 1,000 Crore BESS vertical target by FY 2029-30 through scalable solutions.
Mr. Kartik Hajela, CEO of JEM Energy, emphasized the long-term nature of these partnerships. He noted that the current orderbook provides strong revenue visibility while the company focuses on delivering quality projects. JEM Energy's integrated approach combining battery technology and project development positions it to capitalize on India's growing BESS market.
Jupiter Electric Mobility Pvt. Ltd. (JEM), a JWL subsidiary, specializes in electric vehicles and energy storage. The company leverages Jupiter Wagons' legacy in mobility infrastructure to drive sustainable solutions. JWL's diverse offerings include Freight Wagons, Locomotives, and ISO Marine Containers across multiple manufacturing facilities in India.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.