Mumbai, Sept. 17 -- Premier Energies has entered into a binding term sheet with RCT India, part of Germany-based RCT Group, to establish a 12 GWh battery energy storage system (BESS) manufacturing facility in Telangana. The proposed joint venture will target the growing demand for energy storage in India and overseas markets.
The facility will be developed through Premier Energies subsidiary Premier Battery Technologies, with the first phase planned at 6 GWh. The project is expected to serve commercial, industrial and utility-scale applications, supporting the increasing use of renewable energy and the need for reliable storage capacity.
The partners also intend to develop the facility as an export-oriented manufacturing platform. Products manufactured in India are planned to serve international markets, giving the joint venture a role in both domestic supply and overseas demand for BESS solutions.
For Premier Energies, the proposed partnership marks a step towards expanding beyond its established solar cell and module manufacturing operations. The company is seeking to build capabilities across several segments of the renewable energy value chain and develop globally competitive BESS products through the new manufacturing platform.
Managing director Chiranjeev Saluja said the partnership would provide access to a rapidly expanding energy storage market as India increases its renewable generation capacity. He noted that storage would support a reliable, resilient and sustainable power system while enabling the company to serve customers in India and abroad.
Premier Energies operates one of India's largest integrated solar cell and module manufacturing facilities by capacity. In Q1 FY27, its consolidated net profit rose 50.45 per cent to Rs. 4.63 bn, while revenue increased 35.25 per cent to Rs. 24.63 bn compared with Q1 FY26. Shares declined 0.54 per cent to Rs. 964.80 on the BSE.
Published by HT Digital Content Services with permission from Construction World.