Bhilwara Energy
Diversified renewable energy asset development and operation.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
$50.0m | Growth Equity VC | ||
| Total Funding | 000k | ||
Bhilwara Energy Limited (BEL), incorporated on May 17, 2006, is the power sector holding company of the LNJ Bhilwara Group, a diversified conglomerate founded by Lakshmi Niwas Jhunjhunwala in 1960. The group began with a textile mill and has since expanded into graphite electrodes, IT services, and power generation. BEL serves as the flagship entity for developing and operating renewable energy assets in India and overseas.
The company's business model focuses on power generation, transmission, distribution, and trading. Its portfolio consists primarily of hydropower and wind energy assets. BEL has successfully commissioned two hydropower projects totaling 278 MW and operates a 14 MW wind power project. Key projects include the 86 MW Malana Power Project and the 192 MW AD Hydro Power Project, both in Himachal Pradesh. The company operates on a business-to-business (B2B) model, generating revenue through the sale of power and dividend income from its subsidiaries. For the fiscal year ending March 31, 2024, BEL reported a consolidated revenue from operations of Rs. 4,750.97 million.
BEL is expanding its focus towards a broader energy transition platform. In March 2025, the company announced a significant investment of Rs 750 crore to build a recycled PET (rPET) resin manufacturing plant in Rajasthan, slated to be operational by September 2026. This facility will recycle 20 million PET bottles daily. Further strategic initiatives include developing battery-grade anode materials, graphene, and advanced battery systems for energy storage and electric vehicles. The company is managed by Chairman Ravi Jhunjhunwala and Managing Directors Riju Jhunjhunwala and Rishabh Jhunjhunwala.
Keywords: renewable energy, hydropower generation, wind power, power trading, energy asset management, power transmission, energy transition, rPET recycling, energy storage solutions, EV batteries, sustainable energy, project development, power distribution, run-of-river hydro, green energy, corporate holding, Indian power sector, solar energy, battery materials, infrastructure investment