Jupiter Electric Mobility Pvt Ltd (JEM Energy), Jupiter Waggons Limited’s subsidiary, has announced that it has entered into strategic Memorandums of Understanding (MoUs) with Chalukya Power and Pickrenew Energy to strengthen its presence in India’s fast-growing Battery Energy Storage System (BESS) market.
The agreements add 110 MWh of BESS projects to the company’s FY 2026-27 orderbook, covering both utility-scale and commercial & industrial (C&I) energy storage applications.
With these new additions, JEM Energy’s BESS orderbook has now crossed ₹150 crore, including ongoing projects with renewable energy developers and public sector organisations such as Power Grid Corporation of India Limited. The company is now aiming to achieve a combined battery and BESS orderbook worth ₹200 crore during FY 2026-27, driven by rising demand for locally developed energy storage solutions across India’s renewable energy sector.
The latest partnerships mark another important step in JEM Energy’s plan to position itself as a leading Indian provider of integrated BESS solutions. The projects are expected to support multiple applications, including renewable energy integration, grid stability, and industrial energy management systems designed to improve efficiency and operational reliability.
India’s energy storage sector is currently witnessing rapid expansion as the country accelerates renewable energy adoption and grid modernisation efforts. Government initiatives, including the requirement for four-hour storage systems alongside renewable energy projects and the Viability Gap Funding scheme for standalone BESS projects, are creating strong long-term growth opportunities for the industry.
Looking ahead, JEM Energy is targeting revenue of more than ₹500 crore from its battery and BESS business by FY 2027-28. The company also expects the segment to achieve EBITDA positivity during the same period as it continues to scale operations and execution capabilities. Over the longer term, JEM Energy has outlined plans to generate ₹1,000 crore in revenue from its battery and energy storage business by FY 2029-30.
Commenting on the development, Vivek Lohia said the agreements with Chalukya Power and Pickrenew Energy reflect increasing industry confidence in JEM Energy’s technology expertise and execution capabilities. He noted that the company’s growing orderbook highlights the rising trust in indigenous energy storage providers and reinforces Jupiter Waggons Limited’s long-term commitment to building leadership in the BESS sector.
Kartik Hajela stated that these partnerships represent the beginning of long-term collaborations with major renewable energy developers. He added that the company remains focused on delivering reliable and high-quality energy storage solutions while expanding operations to support India’s increasing clean energy needs.
Jupiter Electric Mobility Pvt Ltd focuses on developing electric vehicles and energy storage products for commercial and industrial applications. Its portfolio includes electric trucks, light commercial vehicles, and energy storage solutions aimed at promoting sustainable transportation and clean energy adoption. Backed by the long-standing infrastructure and railway expertise of Jupiter Waggons Limited, the company is positioning itself as a key player in India’s electric mobility and energy transition journey.
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