JEM Energy Secures 110 MWh BESS MoUs, Eyes ₹200 Crore FY27 Target

JEM Energy, a subsidiary of Jupiter Wagons Limited, has signed MoUs with Chalukya Power and Pickrenew Energy for 110 MWh of Battery Energy Storage System deployments. The agreements push JEM Energy's total BESS orderbook past ₹150 crore and set the stage for an ambitious ₹200 crore target for FY 2026-27.

Jupiter Electric Mobility Pvt. Ltd. (JEM), the clean energy arm of listed Jupiter Wagons Limited (JWL), announced two strategic Memoranda of Understanding on May 25, 2026. The agreements are with Chalukya Power and Pickrenew Energy, both established players in India's renewable energy development sector. The 110 MWh of Battery Energy Storage System (BESS) capacity covered by the MoUs spans utility-scale installations as well as Commercial and Industrial (C&I) deployments, reflecting the breadth of JEM Energy's go-to-market strategy.

With the new MoUs incorporated, JEM Energy's total BESS orderbook for FY 2026-27 now exceeds ₹150 crore. The company has set an overall revenue target of ₹200 crore for the year from BESS-related business, encompassing both private renewable energy developers and select Public Sector Undertakings. The additions from Chalukya Power and Pickrenew Energy are expected to be a key pillar in bridging the gap toward that target, underscoring the rapid commercialisation of energy storage in India's power sector.

Battery energy storage is considered a critical enabler of India's renewable energy transition, helping to smooth intermittency from solar and wind sources. JEM Energy's growing orderbook signals rising corporate demand for grid-scale and behind-the-meter storage solutions, a trend aligned with India's target of 500 GW of non-fossil fuel capacity by 2030. For Jupiter Wagons, the BESS push diversifies revenue beyond traditional railway wagon manufacturing and positions the group as a participant in India's broader clean energy infrastructure buildout.

Key figure — 110 MWh