Key Highlights
- JEM Energy signed MoUs with Chalukya Power and Pickrenew Energy for 110 MWh BESS projects.
- The agreements include utility-scale and commercial and industrial deployments.
- JEM Energy’s current Battery Energy Storage System order book has crossed ₹150 crore.
- The company is targeting a ₹200 crore battery and BESS order book during FY 2026-27.
- JEM Energy aims to generate more than ₹500 crore revenue from the BESS segment by FY 2027-28.
- The company has set a long-term revenue target of ₹1,000 crore in the battery and BESS business by FY 2029-30.
Jupiter Electric Mobility Pvt. Ltd. (JEM), a subsidiary of Jupiter Wagons Limited (JWL), announced the signing of strategic Memorandums of Understanding (MoUs) with renewable energy developers Chalukya Power and Pickrenew Energy. The agreements add 110 MWh of Battery Energy Storage System (BESS) business to JEM Energy’s order pipeline for FY 2026-27.
The new projects comprise a combination of utility-scale and commercial and industrial (C&I) deployments intended to support grid stability and renewable energy integration. According to the company, these agreements reflect growing industry demand for integrated energy storage solutions in India.
Following the latest additions, JEM Energy stated that its battery and BESS order book has crossed ₹150 crore, including projects from private renewable energy developers and selected public sector clients. The company has also set a target to reach a combined battery and BESS order book of ₹200 crore during FY 2026-27.
The company further outlined medium-term and long-term growth objectives for the energy storage business. JEM Energy expects revenue from the battery and BESS segment to exceed ₹500 crore by FY 2027-28 and indicated that it aims to achieve positive EBITDA as the business scales.
Looking further ahead, the company has outlined a target of generating more than ₹1,000 crore in revenue from the battery and BESS business by FY 2029-30. The expansion strategy is expected to be supported by India’s growing renewable energy capacity, battery storage policies, and increasing demand for energy storage infrastructure.
Jupiter Wagons management said the agreements strengthen the company’s position in India’s energy storage market and reflect increasing confidence from renewable energy developers in indigenous battery storage capabilities.
JEM operates in electric mobility and energy storage segments, focusing on electric commercial vehicles and battery-based energy solutions while leveraging Jupiter Wagons’ broader infrastructure and manufacturing capabilities.