Jupiter Electric Mobility (JEM), a subsidiary of Jupiter Wagons Limited, has signed formal MOUs with Chalukya Power and Pickrenew Energy. These agreements add 110 MWh of Battery Energy Storage System (BESS) capacity to its order book. With a current BESS order book exceeding INR 150 crore, the company is targeting INR 200 crore in the segment for FY 2026-27, marking a significant step in its expansion into indigenous energy storage solutions.
Expanding Energy Storage Capabilities
Jupiter Electric Mobility (JEM) has announced the successful signing of strategic MOUs with prominent renewable energy developers, Chalukya Power and Pickrenew Energy. This partnership marks a pivotal development for the company, adding 110 MWh of Battery Energy Storage System (BESS) business to its portfolio. The projects encompass a diverse mix of utility-scale, commercial, and industrial (C&I) deployments, designed to bolster grid stability and facilitate renewable energy integration.
Targeting Growth and Financial Milestones
Following these latest additions, JEM Energy’s current BESS order book has climbed to over INR 150 crore, which includes existing engagements with private developers and public sector clients like Power Grid. The company has set an aggressive target to achieve a combined order book of INR 200 crore within FY 2026-27.
Long-Term Strategic Vision
Looking further into the future, JEM has outlined a clear growth trajectory for its battery and BESS vertical:
- FY 2027-28 Revenue Target: Aiming for INR 500+ crore, with expectations of becoming EBITA positive.
- FY 2029-30 Revenue Target: An aspirational goal of INR 1,000 crore.
This vision is supported by the Government of India’s push for 4-hour storage mandates for new renewable projects, the Viability Gap Funding (VGF) scheme for 4,000 MWh of storage, and a broader national goal to reach 500 GW of non-fossil fuel capacity by 2030. By integrating deep technical expertise with reliable execution, JEM is positioning itself as a leader in India’s transition to efficient, domestically-manufactured energy storage systems.
Source: BSE
