Business Update25 May 2026, 11:13 am
Jupiter Wagons' JEM Energy Inks BESS MoUs, Eyes ₹200 Cr
AI Summary
Jupiter Electric Mobility (JEM), a Jupiter Wagons subsidiary, has signed MoUs with Chalukya Power and Pickrenew Energy for 110 MWh of Battery Energy Storage System (BESS) projects. This boosts JEM Energy's order book to over ₹150 Crore, targeting ₹200 Crore in FY 2026-27. JEM Energy aims for ₹500+ Crore revenue in the battery and BESS vertical by FY 2027-28 and ₹1,000 Crore by FY 2029-30, driven by India's renewable energy push and BESS demand.
Key Highlights
- JEM Energy secures MoUs with Chalukya Power and Pickrenew Energy for 110 MWh BESS projects.
- The current BESS order book stands at ₹150+ Crore, targeting ₹200 Crore in FY27.
- JEM Energy targets ₹500+ Crore revenue in BESS by FY28 and ₹1,000 Crore by FY30.
- The company expects to be EBITA positive by FY28.
- MoUs span utility-scale and C&I deployments, reflecting confidence in JEM Energy's capabilities.
Price Impact
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