Jindal India Renewable Energy enters into battery storage space

JIRE in battery storage space: Jindal India Renewable Energy, which is a part of the BC Jindal Group, on Wednesday stated that the company is foraying into battery energy storage systems (BESS) space.

The company has plans to construct an assembly line of 1 GWh battery pack with LFP (lithium iron phosphate) chemistry by 2025. JIRE will also enter into the battery cell manufacturing segment by 2027 having a 5 GWh capacity, according to a statement.

To achieve this production capacity, the company will be entering into a technological collaboration with a technology provider.

This move from the JIRE aligns with India's efforts to bolster its position as one of the top renewable energy players in the world. Currently, the renewable energy sector is recording a rapid surge due to emphasis on policies for renewables to enable the government's push towards a greener future, it said.

BESS as a technology helps in improving the stability of the grid and efficient storage. This technology also addresses the issue of power supply during peak periods.

The Indian BESS market is anticipated to expand at an impressive Compound Annual Growth Rate (CAGR) of 11.41 per cent till 2032. This underscores the significant possibilities that this sector presents, it stated.

Punit Gupta, Director, of Jindal India Renewable Energy, said "By investing in battery energy storage systems, we are expanding our portfolio as well as contributing to grid stability and deeper integration of renewable sources."

JIRE also aims to generate 5 GW of power from solar, wind, hybrid, and FDRE (Firm and Dispatchable Renewable Energy) modes. Along with this, the company will also produce photovoltaic cells and modules to foray into the demand for solar energy.

(with PTI inputs)