Jupiter Wagons Wins BESS Projects In Uttarakhand, West Bengal; Shares Fall 0.19%

Mumbai, October 5: Jupiter Electric Mobility Private Limited, a subsidiary of Jupiter Wagons, had emerged as the L1 or lowest bidder for the project under a Tariff-Based Competitive Bidding mechanism.

According to the company’s exchange disclosure, the Uttarakhand project has been awarded by Uttarakhand Power Corporation Limited (UPCL) in partnership with Madhav Infra Projects Limited. Jupiter Electric Mobility Private Limited, a subsidiary of Jupiter Wagons, had emerged as the L1 bidder for the project under a Tariff-Based Competitive Bidding mechanism.

The Uttarakhand project involves the supply and commissioning of approximately ₹100 crore of BESS systems. Separately, West Bengal State Electricity Distribution Company Limited (WBSEDCL) has issued a formal LOA for the 50 MW/200 MWh standalone BESS project at Jeerat 132 kV substation in North 24 Parganas.

Stock Market Snapshot

The Jupiter Wagons share price stood at ₹223.50 as of 2:18:32 PM IST on October 5, 2026, according to the market data.

The stock was down ₹0.43, or 0.19%, at the time. Shares had moved sharply higher after 1:30 PM before giving up part of the gain and trading near ₹223.50.

The Jupiter Wagons share price movement came as the company announced the two battery storage developments across Uttarakhand and West Bengal.

Uttarakhand BESS Project Adds To Energy Storage Order Pipeline

The Uttarakhand project represents Jupiter Electric Mobility’s entry into the state’s battery energy storage market. The company said the project will support the deployment of BESS infrastructure alongside the expansion of intra-state transmission networks.

The project comes after the Union Cabinet’s approval of Green Energy Corridor Phase-III, which includes provisions for large-scale battery energy storage alongside stronger transmission infrastructure. Jupiter Wagons said its BESS strategy is aligned with this broader development.

Managing Director Vivek Lohia said the Uttarakhand project and the West Bengal LOA strengthen Jupiter Wagons’ position beyond its traditional railway and mobility operations.

West Bengal LOA Covers 50 MW/200 MWh BESS System

The formal LOA from WBSEDCL covers a 50 MW/200 MWh standalone BESS project at the Jeerat 132 kV substation in North 24 Parganas, West Bengal.

The company said the West Bengal project was secured in August 2026. The LOA now formalises the award for the project and adds another large-scale energy storage assignment to Jupiter Wagons’ portfolio.

Jupiter Wagons has said it is targeting a BESS order book of approximately ₹1,000 crore by Fiscal 2027, with the latest projects contributing to that broader expansion.

Jupiter Wagons Builds Energy Storage Business Through Subsidiary

Jupiter Electric Mobility is focused on electric vehicles and energy storage solutions for commercial and industrial applications. The subsidiary is also developing capabilities in battery technologies, electric trucks, light commercial electric vehicles and energy storage systems.

The latest BESS projects mark a further shift in Jupiter Wagons’ business mix towards energy storage alongside its established railway and mobility operations. The company said the Uttarakhand project also strengthens its presence in the energy transition ecosystem.

Conclusion

Jupiter Wagons’ latest BESS wins add two sizeable battery storage projects to its growing energy portfolio, covering 41 MW/102.5 MWh in Uttarakhand and 50 MW/200 MWh in West Bengal. The developments support the company’s stated objective of building a ₹1,000 crore BESS order book by Fiscal 2027, while the Jupiter Wagons share price was down 0.19% at ₹223.50 as of 2:18:32 PM IST on October 5, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/JWL/Jupiter-Wagons-Limited
• https://nsearchives.nseindia.com/corporate/CEBBCO_05102026133009_SEPRESSRELEASE.pdf