Jupiter Electric Mobility (JEM), a subsidiary of Jupiter Wagons Limited, has signed strategic Memorandums of Understanding (MoUs) with Chalukya Power and Pickrenew Energy for Battery Energy Storage System (BESS) projects.
The agreements add 110 MWh of BESS business to JEM Energy’s orderbook for FY 2026-27, covering both utility-scale and commercial & industrial (C&I) energy storage deployments.
Following these additions, JEM Energy’s total BESS orderbook has crossed Rs 150 crore, including projects with private renewable energy developers and select public sector clients such as Power Grid Corporation of India. The company is now aiming to achieve a combined battery and BESS orderbook of Rs 200 crore during FY 2026-27.
According to the company, the agreements mark an important step in establishing JEM Energy as a domestic provider of integrated energy storage solutions. The projects are expected to support grid stability, renewable energy integration, and efficient energy management for industrial consumers.
Looking ahead, JEM Energy has set a target of generating more than Rs 500 crore revenue from the battery and BESS segment by FY 2027-28 and expects the business to turn EBITDA positive as scale improves and the orderbook expands.
Over the longer term, the company has outlined an aspirational revenue target of over Rs 1,000 crore from the battery and BESS vertical by FY 2029-30. The company believes the opportunity will be driven by India’s growing renewable energy capacity, government support for energy storage projects, and increasing demand for grid-scale battery solutions.
Commenting on the development, Vivek Lohia said the agreements reflect the growing confidence of India’s renewable energy developers in indigenous BESS solutions and highlighted the company’s focus on building strong technological and execution capabilities in the energy storage sector.