Written by: Suhaib Shams
Premier Energies has entered into a partnership agreement with the German RCT Group to establish a joint venture specializing in the manufacturing of Battery Energy Storage Systems (BESS). The project aims to establish a factory with a production capacity of up to 12 GWh in the Sitarampur area of Telangana, India.
Details of production phases and location
According to the agreement details, the project will be implemented in phases, with the first phase expected to be operational with a capacity of 6 GWh during the 2027-2028 fiscal year. The factory will manufacture and assemble products customized for residential, commercial, and industrial uses, as well as applications for utilities and major electrical grids.
Ownership and management structure
A share subscription agreement was signed between Premier Battery Technologies Pvt Ltd (PBTPL), a wholly-owned subsidiary of Premier Energies, and RCT Nexor Energy Pvt Ltd, in addition to the joint venture company Premier Energies Storage Solutions Pvt Ltd (PESSPL). The agreement grants RCT Nexor the right to acquire a 15% stake of the issued and paid-up capital of the joint venture in four tranches linked to project milestones, with an additional option to purchase another 5% by the end of the first phase.
Expansion in energy solutions
This move is part of Premier Energies' strategy to expand its business portfolio to include inverters, converters, and energy storage systems, alongside its current activity in solar cell and panel manufacturing. The technological expertise of the German RCT Group is expected to support the technical development of the joint venture in the Indian market.
