BC Jindal Group to invest $2.5 billion in India’s renewable energy sector
BC Jindal Group has announced its entry into India’s renewable energy sector, planning to invest approximately $2.5 billion over the next five years. The group has established Jindal India Renewable Energy (JIRE) to manage this endeavour, aiming to achieve decarbonization and ensure responsible environmental stewardship. JIRE’s goal is to produce 5 GW of power through hybrid, solar, wind, and Floating Solar and Direct Renewable Energy (FDRE) technologies.
Currently, BC Jindal Group is developing 1,200 MW of thermal power in Angul, Odisha, and JIRE will oversee the production of solar modules, PV cells, and renewable energy.
India already ranks 4th globally in adding renewable capacity and is 4th and 5th in wind and solar power capacity, respectively.