Premier Energies has entered into a binding term sheet with RCT India, part of Germany-based RCT Group, to establish a joint venture (JV) for a 12 GWh battery energy storage system (BESS) manufacturing facility in Telangana.
The proposed facility will be developed through Premier Energies’ subsidiary, Premier Battery Technologies, with the first phase planned at 6 GWh.
The facility is expected to cater to the growing demand for energy storage across commercial, industrial and utility-scale applications in India and international markets. It is also planned as an export-oriented manufacturing platform, with the partnership aiming to serve global markets from India.
For Premier Energies, the partnership marks a step towards expanding beyond solar cell and module manufacturing into a broader clean-energy business with capabilities across multiple segments of the renewable energy value chain.
Chiranjeev Saluja, Managing Director, Premier Energies, said energy storage is an important requirement for the Indian power system as the country expands its renewable energy generation capacity. He said the partnership with RCT will provide access to the growing energy storage market, with the aim of developing globally competitive BESS products in India for domestic and international markets.