JEM Energy Signs BESS MoUs With Chalukya Power And Pickrenew

JEM Energy's BESS orderbook now stands at Rs 1,500 million (mn), including projects with private developers and public sector clients such as Power Grid. The company aims for a combined orderbook of Rs 2,000 mn in FY 2026-27 and said this reflected accelerating commercial momentum. Management noted improving revenue visibility from the recent agreements.

The MoUs span grid-supporting utility projects and C&I systems for industrial consumers seeking reliable, cost-efficient energy management. JEM Energy presented the agreements as endorsement of its technical capability and execution track record. The firm characterised the partnerships as the start of long-term collaboration rather than one-off deals.

JEM Energy is targeting Rs 5,000 mn in revenue in the battery and BESS vertical for FY 2027-28 and expects to be EBITA positive that year as operating leverage builds. Over a three-year horizon, it has set an aspirational revenue target of Rs 10,000 mn by FY 2029-30. Management linked the plan to an expanding orderbook, deeper client relationships and progress in battery and system integration.

The company pointed to policy and market support, including the government mandate for four-hour storage with new renewable projects and the Viability Gap Funding scheme for standalone BESS projects totalling 4,000 MWh. JEM Energy said India’s target of 500 GW of non-fossil capacity by 2030 and rising grid intermittency would sustain demand for local BESS manufacturing. The release concluded that the company is positioned to capture a meaningful share of the domestic market.