BC Jindal Group’s JIRE Targets Strategic Acquisitions to Achieve 5 GW Renewable Energy Target

• Conglomerate’s Energy Arm sets sights on Domestic and Global Acquisitions to Expand RE Capacity
• Acquisitions to be funded through a mix of internal accruals and debt

New Delhi, 23th January 2025: BC Jindal Group, India’s leading conglomerate with over Rs. 18,000 crore turnover, has announced that its renewable energy arm, Jindal India Renewable Energy (JIRE), sets sight on expansion and is actively pursuing aggressive acquisitions of operational assets both domestically and abroad. This is in line with the company’s goal to expand its capacity to 5 GW within the next four years. These acquisitions are anticipated to be finalised in the 1-2 years and will be funded through a mix of internal accruals and debt.

JIRE aims to generate 5 GW of power from solar, wind, hybrid, hydro and FDRE modes. To achieve this JIREL is focused on acquisition of operational portfolio in the initial couple of years. In parallel JIRE is focused on establishing its presence in renewable energy-rich states by developing Renewable projects connected to grid at CTU and STU to meet the energy demands of utilities as well Industrial and Commercial (C&I) customers.

Commenting on the announcement, Mr. Amit Kumar Mittal, CEO, Jindal India Renewable Energy, said, “In 2025-2026, we are looking to strategically expand our capacity portfolio by acquiring key operational assets within the country and across geographies. JIRE seeks to enhance its play in the RE segment which will increasingly throw up huge opportunities as India’s energy mix undergoes a fundamental transition. For JIRE, these acquisitions will be crucial in shaping the growth trajectory of the company in the coming years.”

With an existing portfolio of 1,200 MW thermal power generation in Angul, Odisha, BC Jindal Group had recently floated its dedicated entity, JIRE, to hold the renewable venture of the group. This company will oversee the renewable power generation, solar cells and module manufacturing businesses.

Jindal India Renewable Energy operates under the BC Jindal Group, founded in 1952 by Shri B.C. Jindal. Originally a steel pipe and fittings manufacturer, the group has grown into one of India’s leading conglomerates with a significant presence in the power sector. JIRE’s initiative represents a forward-thinking approach to energy diversification. With a focus on environmental well-being at the core of its inception, BC Jindal Group’s commitment extends beyond compliance to a genuine dedication to preserving the environment for future generations.