Key Details of Agreement
- Parties: Advait Battery Ecosystem Private Limited (step-down subsidiary of Advait Energy Transitions Limited) and Hithium (BloombergNEF Tier 1 Manufacturer)
- Agreement Type: Master Supply Agreement (MSA)
- Execution Date: September 18, 2026
- Scope: Purchase of lithium iron phosphate (LFP) prismatic battery cells
- Volume: Structured to support cell offtake of up to 1 GWh over the next year
- Product Specification: 314 Ah LFP prismatic cells
Financial Terms
- Pricing: Contractual value of $49.5/kWh for up to 350 MWh
- Future Pricing: Additional prices will be decided based on receipt of future projects
- Payment Status: Consideration is yet to be paid
Purpose and Rationale
The agreement supports ABEPL's upcoming cell-to-container Battery Energy Storage System (BESS) assembly facility. The partnership aims to establish a dependable, high-volume supply chain as Advait scales domestic BESS assembly for grid-scale and commercial/industrial energy storage applications across India.
Facility Details
- Capacity: 2.5 GWh annual capacity BESS assembly facility
- Location: Gangad, Gujarat
- Status: Currently under development, scheduled to begin commercial production soon
- Capabilities: Cell sourcing, module and pack assembly, container integration, and system commissioning
Counterparty Information
Hithium Financials (H1 2025):
- Net profit exceeded RMB 100 million (~$14 million USD)
- Net cash flow from operating activities surpassed RMB 1 billion (~$140 million USD)
- Recognized as BloombergNEF Tier 1 global energy storage manufacturer
ABEPL Status: Incorporated on April 27, 2026
Additional Considerations
- Relationship: Not a related party transaction
- Geographic Scope: International agreement
- Regulatory Reference: Filed pursuant to SEBI Circular No HO/49/14/14(7)2025-CFDPOD2/I/3762/2026 dated January 30, 2026
Management Commentary
Bhushan Shahane, Chief Operating Officer of ABEPL, stated that the partnership reflects their strategy of partnering with the best cell technology, quality, and service available in the market. The agreement provides access to high-volume LFP cells as the facility progresses towards commercial production.
Broader Context
This agreement is part of Advait Energy Transitions Limited's expansion across energy transition technologies including battery energy storage manufacturing, green hydrogen project development, electrolyzer manufacturing, fuel cell manufacturing, and clean energy EPC.