Jupiter Wagons has announced that its subsidiary, Jupiter Electric Mobility (JEM) Energy, has signed strategic Memorandums of Understanding (MoUs) with renewable energy developers Chalukya Power and Pickrenew Energy to expand its Battery Energy Storage System (BESS) business in India.
According to the company’s exchange filing, the agreements add 110 MWh of BESS projects to JEM Energy’s FY27 orderbook, covering a mix of utility-scale and commercial & industrial (C&I) deployments. With these additions, JEM Energy’s current BESS orderbook has crossed ₹150 crore, including engagements with private renewable developers and public sector clients such as Power Grid.
The company has set an ambitious target of reaching a combined ₹200 crore orderbook in the battery and BESS segment during FY27. Looking further ahead, JEM Energy aims to generate more than ₹500 crore revenue from the battery and energy storage vertical by FY28 and has outlined a long-term aspiration of ₹1,000 crore revenue by FY30.
Management said the partnerships represent a significant step in positioning JEM Energy as a leading indigenous BESS solutions provider in India. The company believes rising renewable energy adoption, increasing grid-scale storage demand and government policy support for energy storage infrastructure will drive strong long-term growth opportunities in the sector.
Jupiter Wagons Managing Director Vivek Lohia said the agreements reflect increasing confidence among leading renewable developers in JEM Energy’s execution capabilities and technology platform. He added that the company remains focused on scaling its battery and storage business while building sustainable long-term growth.
JEM Energy CEO Kartik Hajela stated that the MoUs are expected to strengthen revenue visibility and operational momentum for the company as it expands its integrated energy storage portfolio across utility-scale and industrial applications.
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