BC Jindal Group to Invest $2.5 Billion in India's Renewable Energy Sector

BC Jindal Group, a prominent name in the Indian industrial landscape, has announced a major leap into the renewable energy sector with plans to invest $2.5 billion over the next five years. This significant investment marks the Group's entry into India's growing renewable energy market, aiming to contribute to the country's ambitious goal of installing 500 GW of renewable energy capacity by 2030.

To spearhead this initiative, BC Jindal Group has established a new entity, Jindal India Renewable Energy. This company will oversee the Group's renewable energy generation and solar manufacturing ventures, including the production of photovoltaic (PV) cells and modules. The new entity will focus on generating 5 GW of power through various renewable sources, such as solar, wind, hybrid systems, and Flexible Direct Renewable Energy (FDRE) modes.

Diversifying into Renewable Energy

Shyam Jindal, a senior executive at BC Jindal Group, emphasized the strategic importance of this move. "Our aim is to generate 5 GW of power from solar, wind, hybrid, and FDRE modes. As India aims to install 500 GW of renewable energy capacity by 2030, Jindal India Renewable Energy's entry into this segment will give a boost to this mission. Our foray into the renewable sector is an evolution towards a green and sustainable future," he stated.

Punit Gupta, Executive Director of Jindal India Renewable Energy, highlighted the potential for growth in India's energy market. "To address India's current energy requirements, brown energy is still dominant. As technology improves in this sector and demand increases, we aim to act as a key player in the renewable energy sector by leveraging the strength of our existing power company. This will enhance our energy security, ensuring a stable power supply for our operations,” Gupta added.

A New Chapter for BC Jindal Group

This ambitious venture into the renewable energy sector is a natural extension for the BC Jindal Group, which has a long history of diversified industrial operations. With a workforce of over 10,000 people spread across India, the USA, and Europe, the Group has been a significant player in flexible packaging films, energy generation, and steel products since its inception in 1952. The addition of a dedicated renewable energy wing will further diversify the Group's portfolio and strengthen its commitment to sustainable development.

The Group’s existing power generation portfolio includes a 1,200 MW thermal power plant in Angul, Odisha. The new renewable energy initiatives will complement this capacity, enhancing the Group’s position in the energy sector.