A very big and positive news has come out on the front of Jupiter Wagons Ltd (JWL), the giant company known for its excellent performance and multibagger returns in the stock market. The energy business unit of the company, which has been delivering strong returns to investors in the last few years—JEM Energy—has bagged 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 estimated to be around Rs 100 crore. 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. Major achievement of Battery Energy Storage System (BESS) project in Uttarakhand According to the official information given by All India Stock Exchange and the company, JM Energy has got the standalone Battery Energy Storage System (BESS) project of 41 MW/102.5 MWh in Uttarakhand. To achieve this project, the company has partnered with Madhav Infra Projects Ltd. 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. Formal letter of award received for Jeerat project of West Bengal. Apart from the Uttarakhand project, Jupiter Wagons has also got a big success from West Bengal. The company has received the formal Letter of Award (LoA) for the 50 MW/200 MWh standalone BESS project from West Bengal State Electricity Distribution Company Limited (WBSEDCL). 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. Targeting an order book of Rs 1,000 crore by FY 2027, Vivek Lohia, Managing Director, Jupiter Wagons Limited, expressed happiness over this achievement and 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. The company has set an ambitious target of building a BESS order book of around Rs 1,000 crore by financial year 2027 (FY27). 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.
