BC Jindal Group Ventures into Renewable Energy Manufacturing with Rs 15,000 Crore Investment

BC Jindal Group announced its entry into renewable energy component manufacturing, planning to invest Rs 15,000 crore by 2030. The company aims to produce solar cells, modules, and more to support India's green goals. The first phase involves a Rs 4,000 crore investment in solar and battery storage manufacturing.

BC Jindal Group has unveiled a significant diversification move by entering the renewable energy component manufacturing sector. With plans to invest Rs 15,000 crore by 2030, the conglomerate will produce essential components like solar cells and modules, storage battery cells, and solar glass to bolster India's renewable energy ambitions.

The company's statement outlined a strategic approach, beginning with a Rs 4,000 crore investment to initiate manufacturing in the renewable energy sector. This phase includes establishing 2 GW solar cell manufacturing, 4 GWh battery storage, and solar glass production with a capacity of 1,200 tonnes per day. Facilities will be located in Maharashtra or Gujarat.

BC Jindal Group's new venture aligns with India's installation targets of 500 GW of renewable energy capacity by 2030. With 40% of the output expected to serve their projects, recent achievements include a 300 MW BESS project. The company's arm, Jindal India Renewable Energy, also aims to bolster the country's shift to clean energy.

(With inputs from agencies.)