BC Jindal Group Invests $2.5 Billion to Power India’s Renewable Energy Future with JIRE Launch

The BC Jindal Group has announced that it will enter India’s renewable energy sector, with plans to invest $2.5 billion over the next five years. The company, which already has a portfolio of 1,200 MW thermal power generation in Angul, Odisha, has created a new entity specifically for its renewable energy ventures.

According to a statement from the company, the BC Jindal Group aims to generate 5 GW of power through various methods, including solar, wind, hybrid, and Floating Dual Renewable Energy (FDRE) systems, as part of their commitment to environmental responsibility and reducing carbon emissions.

In addition to generating renewable energy, the company will also focus on manufacturing photovoltaic (PV) cells and modules to meet the growing demand for solar energy in India. The renewable energy business will be managed under the newly formed Jindal India Renewable Energy (JIRE), which will oversee both power generation and solar manufacturing operations.

Punit Gupta, the Executive Director of JIRE, emphasized the importance of the initiative in addressing India’s current energy needs. He acknowledged that while conventional energy sources still play a significant role, the BC Jindal Group is positioning itself to become a major player in the renewable energy sector by leveraging its existing expertise in power generation.

The BC Jindal Group, a prominent conglomerate in India with an annual turnover exceeding ₹18,000 crore, was established in 1952 by BC Jindal. The group’s move into renewable energy marks a significant step in its efforts to contribute to sustainable energy solutions in India.