Jupiter Wagons Wins ₹100 Crore BESS Projects

through its energy business JEM Energy, has won a 41 MW/102.5 MWh standalone Battery Energy Storage System (BESS) project from Uttarakhand Power Corporation Limited (UPCL), in partnership with Madhav Infra Projects. The partnership emerged as the L1 bidder for Cluster C under UPCL’s Tariff-Based Competitive Bidding (TBCB) tender. The project envisages supply and commissioning of a BESS system worth approximately ₹100 crore. The company has also received a formal Letter of Award from West Bengal State Electricity Distribution Company Limited (WBSEDCL) for a 50 MW/200 MWh standalone BESS project at the Jeerat 132 kV substation in North 24 Parganas, West Bengal. The project was secured in August 2026. The developments expand JEM Energy’s utility-scale energy storage presence into Uttarakhand and strengthen Jupiter Wagons’ strategy of entering high-growth businesses beyond its traditional railway and mobility operations. The company said the projects are aligned with the growing role of battery storage in India’s grid and energy transition ecosystem. Management has reiterated its target of building a BESS order book of approximately ₹1,000 crore by FY27. It also expects Jupiter Electric Mobility to turn EBITDA positive in Q3 FY27 and profitable by FY28. For investors, key monitorables include BESS order inflows, project execution, commissioning timelines and progress towards the ₹1,000 crore FY27 order-book target. The management’s profitability targets remain forward-looking and will depend on execution. I do not hold any position or financial interest in the mentioned stock.