JEM Energy: MoUs with Chalukya Power & Pickrenew Energy, targets ₹200 Cr BESS orderbook for FY27
JEM Energy, a subsidiary of Jupiter Wagons Limited, signed MoUs with Chalukya Power and Pickrenew Energy for 110 MWh of BESS business. This brings their current BESS orderbook to over ₹150 Crore. JEM Energy targets ₹200 Crore in combined orders for FY 2026-27 and aims for over ₹500 Crore revenue by FY 2027-28.
The MoUs are strategic and add to the orderbook, indicating future revenue streams. However, they are not immediate large-scale contracts or acquisitions, and the full impact on JWL's overall financials will be realized over the coming fiscal years as these projects are executed and revenue targets are met.
The announcement details significant new MoUs and strategic partnerships for JEM Energy, a subsidiary of JWL, indicating strong business growth and a positive outlook for the BESS segment. The company has set ambitious targets for orderbook and revenue, reflecting successful business development.
Jupiter Electric Mobility Pvt. Ltd. (JEM), a subsidiary of Jupiter Wagons Limited (JWL), has signed Memoranda of Understanding (MoUs) with Chalukya Power and Pickrenew Energy. These agreements add 110 MWh of Battery Energy Storage System (BESS) business, comprising both Utility-scale and Commercial and Industrial (C&I) deployments, to JEM Energy's orderbook for FY 2026-27.
With these new agreements, JEM Energy's current BESS orderbook stands at over ₹150 Crore, including existing engagements with private renewable energy developers and select Public Sector Undertaking (PSU) clients. The company has set a target of ₹200 Crore in combined orders for the Battery and BESS segment within FY 2026-27, indicating strong commercial momentum.
The MoUs are a significant step in JEM Energy's strategy to become a leading indigenous BESS solutions provider in India. They cover utility-scale projects for grid stability and renewable energy integration, as well as C&I deployments for industrial energy management. These agreements reflect the growing confidence of leading developers in JEM Energy's technical capabilities and execution track record.
Looking ahead to FY 2027-28, JEM Energy is targeting over ₹500 Crore in revenue for the battery and BESS vertical. The company is confident of achieving EBITDA positivity by FY 2027-28, driven by its growing orderbook and expanding client relationships.
Over a three-year horizon, JEM Energy aims for ₹1,000 Crore in revenue in the battery and BESS vertical by FY 2029-30. This target is supported by India's expanding BESS opportunity, government policies mandating storage with renewable energy projects, and the national target of 500 GW of non-fossil fuel capacity by 2030.
Mr. Vivek Lohia, Managing Director, Jupiter Wagons Limited, stated that the MoUs are a strong endorsement of JEM Energy's growing stature and reflect the trust placed in an indigenous partner. He highlighted the company's commitment to supporting JEM's growth towards the ₹1,000 Crore vision.
Mr. Kartik Hajela, CEO, JEM Energy, expressed pride in the milestone MoUs, emphasizing they represent the beginning of long-term partnerships. He confirmed the strong revenue visibility and operational momentum with the current orderbook and the path to ₹200 Crore for the current year.
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Jupiter Wagons Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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