Juniper Green Energy Ltd(JNPR)

NSE: JNPRBSE: 544853

₹ 234.3-3.82%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 13,332 crWebsite: www.junipergreenenergy.com/Updated: 24 Oct 2026

About

Juniper Green Energy Ltd is an Indian renewable power generation company developing and operating utility-scale solar, wind, and hybrid projects with integrated battery storage. As of Q1 FY27 it had 2,409 MWp of operational capacity, with a total portfolio of ~11,200 MWp plus ~9 GWh of BESS under various stages of development. 84% of its portfolio comprises firm and dispatchable renewable energy (FDRE) and wind-solar hybrid projects, and it sells almost entirely under 25-year power purchase agreements.^[1]

Installed and pipeline capacity by fuel

Operational capacity stood at 2,409 MWp as of June 30, 2026 (Q1 FY27 end); following post-quarter additions, aggregate operational capacity reached ~2,740 MWp and ~603 MWh BESS by October 1, 2026.^[1][2]
Total portfolio (operational + under development) stands at ~11,216 MWp plus 8,989 MWh BESS as of the post-Q1 FY27 update date.^[1]
FDRE and wind-solar hybrid projects constitute 84% of the total portfolio; the blended weighted average tariff across the portfolio is INR 3.70/kWh.^[1]
Wind operational capacity was 192 MW (solar 935 MWp) within the Q1 FY27 operational fleet.^[1]

Plant load factor and generation

Fleet-wide CUF was 30.2% in Q1 FY27, up from 28.2% in Q1 FY26.^[1]
Generation grew 72% YoY to 944 million units in Q1 FY27, driven by capacity additions.^[1]
Wind portfolio (192 MW) delivered weighted average CUF of 49.9% in Q1 FY27; solar portfolio (935 MWp) delivered weighted average CUF of 27.9%.^[1]
Plant availability was 98.8% in Q1 FY27 (down from 99.2% in Q1 FY26); grid availability was 99.6% (up from 99.3% in Q1 FY26).^[1]

PPA mix and tariff realisation

98% of contracted capacity is secured through long-term PPAs typically running 25 years as of Q1 FY27; 98% of off-takers are rated A and above.^[1]
Discom receivables outstanding stood at 19 days as of June 30, 2026, down from 22 days in FY26 and 23 days in FY24, described as among the lowest in the sector.^[1]

Battery energy storage (BESS)

All contracts for 4.5 GWh of BESS capacity are signed with Envision (AESC cells), using a fully integrated PCS+EMS+container solution with 15 - 20 year long-term service agreements.^[1]
Majority of battery cells are locked at ~$58 - $60/kWh container cost; all-in cost is approximately $100 - $110/kWh as of Q1 FY27.^[1]
BESS round-trip efficiency was ~91% in Q1 FY27.^[1]
100.64 MWh of BESS commissioned at Bikaner Phase II on September 29, 2026, bringing total commissioned BESS to ~600 MWh.^[3]

Key operating numbers

Weighted average cost of debt on the operational portfolio was 8.58% per annum in Q1 FY27.^[1]
Net debt to net worth was 3.24x as of June 30, 2026 (pre-IPO).^[1]
601 MWp commissioned in Q1 FY27 (458 MWp solar + 143 MW wind), the highest ever quarterly commissioning for the company. Post-quarter FY27-to-date commissioning exceeds 760 MWp plus ~400 MWh BESS across 8 sites.^[1]

Expansion and capex

Total capex expected to increase from INR 16,000 crores (June 2026) to ~INR 22,000 crores by March 2027, covering ~3,900 MW of commissioning plus CWIP for subsequent quarters.^[1]
Target to commission 2 GW total renewable capacity in FY27; ~760+ MWp already commissioned by early Q2; 250 - 300 MW targeted in Q2 FY27.^[1]
BESS installed capacity target is ~4,500 MWh by June 2027 and ~10,000 MWh by March 2028.^[1]

Recent developments

IPO (primary issue) of INR 1,800 crores completed in August 2026; net worth increased from INR 3,463 crores to ~INR 5,200 crores post-issue.^[1]
Post-quarter LOA received for SECI Firm and Dispatchable RTC tender: 870 MWp planned capacity and 2,200 MWh BESS for 230 MW contracted capacity at INR 5.26/kWh.^[1]
India's first FDRE project under the SJVN FDRE tender was commissioned in Q1 FY27.^[1]
ICRA upgraded credit ratings for six subsidiaries in September 2026, with the highest rating raised to AA- from A+; India Ratings also upgraded Nisagra Renewable Energy to AA- (from A+) and Juniper Cosmic to A- (from BBB+) in October 2026.^[4][5]
15.5 MW wind capacity commissioned on October 1, 2026, bringing aggregate operational capacity to ~2,740 MWp and ~603 MWh BESS.^[2]

Market Cap

₹13,332 Cr

High / Low

₹285 / 232

Promoter holding

85.9%

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