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Jupiter Wagons' subsidiary Jupiter Electric Mobility (JEM) has signed MoUs with Chalukya Power and Pickrenew Energy for Battery Energy Storage Systems (BESS), adding 110 MWh to the orderbook. The current BESS orderbook stands at INR 150+ Crore, including engagements with private developers and PSU clients like Power Grid. JEM is targeting INR 200 Crore orderbook for FY 2026-27, INR 500+ Crore revenue for FY 2027-28, and INR 1,000 Crore by FY 2029-30. The company expects to become EBITA positive by FY 2027-28, supported by government policies mandating 4-hour storage with new renewable projects and the VGF scheme for 4,000 MWh standalone BESS projects.
This announcement signals Jupiter Wagons' growing presence in India's energy storage sector through its EV subsidiary. The ambitious revenue targets and expanding orderbook are positive for shareholders, though the BESS business remains nascent and targets are forward-looking.