Jupiter Electric Mobility (JEM), a subsidiary of Jupiter Wagons Limited, has signed strategic MoUs with Chalukya Power and Pickrenew Energy. These agreements add 110 MWh of Battery Energy Storage System (BESS) capacity to its orderbook. JEM Energy is now targeting a combined orderbook of INR 200 crore for FY 2026-27, reflecting the company’s strong momentum in India’s growing energy storage sector as it works toward an aspirational INR 1,000 crore revenue milestone by FY 2029-30.
Strategic Expansion in Energy Storage
JEM Energy has achieved a significant milestone by formalizing partnerships with Chalukya Power and Pickrenew Energy. These agreements encompass a blend of utility-scale and commercial and industrial (C&I) deployments, further cementing JEM’s role as a leading indigenous provider of BESS solutions in India. By securing these projects, the company is successfully executing its strategy to support grid stability and provide cost-efficient energy management for industrial consumers.
Orderbook Growth and Financial Targets
Following these latest additions, JEM Energy’s current BESS orderbook has surpassed INR 150 crore. The company has set a clear growth path, targeting a combined orderbook of INR 200 crore within the current financial year of 2026-27. Looking further ahead, the company has set aggressive revenue targets for its battery and BESS vertical: INR 500+ crore by FY 2027-28 and an aspirational INR 1,000 crore by FY 2029-30. Management expects the division to become EBITA positive by FY 2027-28 as it realizes greater operating leverage.
Long-Term Market Outlook
The company’s growth strategy is supported by favorable government policies, including mandates for 4-hour storage in new renewable energy projects and Viability Gap Funding (VGF) for standalone BESS projects. With India targeting 500 GW of non-fossil fuel capacity by 2030, JEM Energy is positioning itself to address the growing grid-scale intermittency challenges. By leveraging its integrated approach—spanning battery technology, system integration, and project development—JEM aims to capture a substantial share of the accelerating demand for reliable, domestically manufactured energy storage solutions.
Source: BSE
