Jupiter Wagons Limited (JWL), through its energy business arm JEM Energy, has strengthened its presence in India’s battery energy storage system (BESS) market by securing a 41 MW/102.5 MWh standalone BESS project in Uttarakhand in partnership with Madhav Infra Projects Limited.
The joint venture emerged as the L1 bidder for Cluster C of the Uttarakhand Power Corporation Limited (UPCL) tender issued under the Tariff-Based Competitive Bidding (TBCB) mechanism. The project includes the supply and commissioning of BESS systems with an estimated value of approximately ₹100 crore. The award marks JEM Energy’s entry into the Uttarakhand energy storage market.
JWL has also received a formal Letter of Award (LoA) from the West Bengal State Electricity Distribution Company Limited (WBSEDCL) for a 50 MW/200 MWh standalone BESS project. The project will be located at the Jeerat 132 kV substation in North 24 Parganas, West Bengal. JWL had originally secured the project in August 2026, while the latest LoA formalizes the award.
Together, the two projects represent a combined BESS capacity of 91 MW/302.5 MWh and strengthen JEM Energy’s pipeline in the rapidly expanding energy storage segment.
The company’s expansion comes as India accelerates investments in battery storage to support renewable energy integration and improve grid flexibility. The Union Cabinet’s approval of the Green Energy Corridor Phase-III includes plans to add 50 GWh of battery energy storage capacity along with the development of stronger intra-state transmission infrastructure. Substation-level storage projects such as those being developed in Uttarakhand and West Bengal are expected to support this broader grid modernization strategy.
Vivek Lohia, Managing Director of Jupiter Wagons Limited, said that winning the Uttarakhand project and receiving the formal award for the Jeerat project represent important milestones in scaling JEM Energy into a significant energy storage business.
The company has set a target of building a BESS order book of approximately ₹1,000 crore by FY27. JWL also expects its electric mobility business to turn EBITDA positive in the third quarter of FY27 and achieve profitability by FY28.
JEM Energy plans to continue a disciplined bidding strategy for utility-scale as well as Commercial and Industrial (C&I) energy storage opportunities across India. The company’s growing presence in BESS reflects JWL’s broader strategy of diversifying beyond its traditional railway and mobility operations and participating in high-growth segments linked to India’s energy transition.
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