NEW DELHI: BC Jindal Group on Thursday said it is actively pursuing acquisitions as part of its goal to increase its capacity to 5 GW over the next four years.
The acquisitions are expected to be finalised in the next 1-2 years and will be funded through internal accruals and debt, the company said without sharing any details.
"Renewable energy arm, Jindal India Renewable Energy (JIRE), sets sight on expansion and is actively pursuing aggressive acquisitions of operational assets both domestically and abroad in line with the company's goal to expand its capacity to 5 GW within the next four years," it said.
With an existing portfolio of 1,200 MW thermal power generation in Angul, Odisha, the group said it recently floated a dedicated entity JIRE for the renewable venture.
The company oversees the renewable power generation, solar cells and module manufacturing businesses.
Jindal India Renewable Energy CEO Amit Kumar Mittal said, "In 2025-2026, we are looking to strategically expand our capacity portfolio by acquiring key operational assets within the country and across geographies.
These acquisitions will be crucial in shaping the growth trajectory of the company in the coming years".
Founded in 1952, the BC Jindal Group has grown from a steel pipe manufacturer to a leading conglomerate in the power sector.