Jupiter Wagons shares are likely to remain in focus after its subsidiary, Jupiter Electric Mobility Pvt. Ltd. (JEM Energy), announced the signing of strategic Battery Energy Storage System (BESS) MoUs with Chalukya Power and Pickrenew Energy.
The agreements add 110 MWh of BESS business to JEM Energy’s FY27 orderbook, covering both utility-scale and commercial & industrial (C&I) deployments. With the latest additions, the company said its current BESS orderbook has crossed Rs 150 crore, including projects with private renewable energy developers and PSU clients such as Power Grid.
JEM Energy is now targeting a combined battery and BESS orderbook of Rs 200 crore during FY27, reflecting growing momentum in India’s energy storage sector.
The company has also outlined aggressive long-term growth plans. JEM Energy is targeting more than Rs 500 crore revenue from the battery and BESS vertical by FY28, with expectations of becoming EBITDA positive during the same period. Over the longer term, the company has set an aspirational target of Rs 1,000 crore revenue from the segment by FY30.
Management said the growth opportunity is being supported by India’s policy push toward renewable energy storage, including mandatory four-hour storage requirements for renewable projects and the government’s viability gap funding scheme for standalone BESS projects.
Commenting on the development, Jupiter Wagons Managing Director Vivek Lohia said the agreements reflect increasing trust from India’s leading renewable developers in JEM Energy’s capabilities and execution strength.
Jupiter Electric Mobility, a subsidiary of Jupiter Wagons, focuses on electric commercial vehicles and energy storage solutions across industrial and mobility segments.
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