Jupiter Wagons Ltd secured two battery energy storage system projects worth around Rs 400 crore from West Bengal State Electricity Distribution Company Ltd.
The projects, with a combined capacity of 100 MW/400 MWh, are located in Jeerat and Kharagpur and were awarded through e-reverse auctions under tariff-based competitive bidding, according to a company statement.
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JWL subsidiary JEM Energy will execute and operate the projects under a 15-year build-own-operate (BOO) model, it said.
With the latest orders, JEM Energy's battery energy storage system (BESS) order book has risen to around 500 MWh, valued at over Rs 500 crore, including commercial and industrial projects.
The company is targeting a BESS order book of around Rs 1,000 crore by 2026-27, it said.
The projects are a part of WBSEDCL's efforts to build battery storage capacity to support the integration of renewable energy, and strengthen grid flexibility in West Bengal
Jupter Wagons Share Price
Share price of Jupiter Wagons Ltd. saw a 1% downturn to settle at Rs 257.40 at the end of the day's trade, compared to a 0.05% uptick of the NSE Nifty 50.
The stock opened at Rs 261.50, compared to its previous close of Rs 260.00. During today's trading session, Jupiter Wagons Ltd. share price moved in the range of Rs 257.00 to Rs 262.50.
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Looking at its last 52-week performance, the stock has touched a low of Rs 235.65 and a high of Rs 372.85. On the performance front, Jupiter Wagons Ltd. share price is down 22.46% on a year-on-year basis.
The market capitalization of Jupiter Wagons Ltd. is Rs 14,541.18 crore, with a P/E ratio of 25.24.
(With PTI Inputs)
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