BC Jindal Group Eyes Aggressive Expansion with 5 GW Renewable Power Ambition

The BC Jindal Group plans aggressive acquisitions to boost its renewable energy capacity to 5 GW within four years through its renewable arm, Jindal India Renewable Energy. The company will fund acquisitions with internal accruals and debt and aims to strategically expand its capacity portfolio by 2026.

The BC Jindal Group has announced its strategy to aggressively acquire operational renewable energy assets to achieve its ambitious goal of attaining a capacity of 5 gigawatts within the next four years. This move is part of their broader expansion efforts to enhance their renewable energy capabilities.

The acquisitions are expected to be finalized within 1-2 years and will be funded through the company's internal accruals as well as debt. At present, the Jindal India Renewable Energy (JIRE) manages activities related to renewable power generation, including solar cell and module manufacturing.

Amit Kumar Mittal, CEO of JIRE, expressed confidence in these plans, emphasizing that acquiring strategic assets will be essential in guiding the company's future growth trajectory. Established in 1952, BC Jindal Group has evolved from a steel pipe manufacturer to a significant player in the power sector.

(With inputs from agencies.)