A giant company known for its excellent performance and multibagger returns in the stock market. Jupiter Wagons Ltd (JWL) A very big and positive news has come out on the front. The energy business unit of this company, which has given strong returns to investors in the last few years—JEM Energy—has won a huge project in the field of energy storage in the state of Uttarakhand.
The company has received this new contract from Uttarakhand Power Corporation Limited (UPCL), the total cost of which is around Rs 100 crore Has been estimated. Receiving this big order has not only expanded the scope of the company's business but also strengthened its position in the energy transition ecosystem.
According to All India Stock Exchange and official information given by the company, JM Energy has been registered in Uttarakhand. 41 MW/102.5 MWh Standalone Battery Energy Storage System (BESS) project has been awarded. To achieve this project the company Madhav Infra Projects Ltd Has partnered with.
This joint partnership of JWL and Madhav Infra Projects has won as the L1 bidder by quoting the lowest bid in the tender process conducted under Cluster C of Tariff-Based Competitive Bidding (TBCB) conducted by UPCL. Under this important project, the entire work of supply and commissioning of BESS system will be done in Uttarakhand.
Apart from the Uttarakhand project, Jupiter Wagons has also got a big success in West Bengal. The company has received formal approval from West Bengal State Electricity Distribution Company Limited (WBSEDCL) for 50 MW/200 MWh standalone BESS project. Letter of Award (LoA) Has been received.
This project will be established at 132 KV substation located at Jeerat in North 24 Parganas district of West Bengal. The company had won this project recently, after which it has now received formal permission and award. The company believes that both these projects will play an important role in accelerating the green energy corridor of the country.
Managing Director of Jupiter Wagons Limited Vivek Lohia Expressing happiness over this achievement, he said that these projects in Uttarakhand and West Bengal will prove to be a milestone in establishing JM Energy as a large and scalable energy storage business.
By the financial year 2027 (FY27) the company has BESS order book worth Rs 1,000 crore An ambitious target has been set to prepare. Along with this, the company also estimates that with the growth of Jupiter Electric Mobility (JEM) business, this unit will become EBITDA positive by the third quarter of financial year 2027 (Q3 FY27) and will become fully profitable by FY28. This expansion of the company beyond the traditional railway and mobility sectors into the high-growth green energy sector is being considered a huge positive sign for investors.