Joint Venture Formation
Premier Energies Limited and RCT India, part of RCT Group Germany, have entered into a binding term sheet to form a joint venture for establishing a 12 GWh battery energy storage system (BESS) manufacturing facility in Telangana. This marks a significant expansion of Premier Energies' clean energy portfolio beyond solar manufacturing.
Manufacturing Facility Details
The proposed facility will be developed through Premier Energies' subsidiary, Premier Battery Technologies Pvt. Ltd. The manufacturing capacity will be developed in phases:
- First phase: 6 GWh capacity
- Total planned capacity: 12 GWh
- Location: Telangana, India
Market Focus and Applications
The facility is designed to cater to rapidly growing demand for energy storage across:
- Commercial applications
- Industrial applications
- Utility-scale applications
- Both Indian and international markets
The partnership specifically aims to develop the facility as an export-oriented manufacturing platform, serving international markets from India.
Strategic Capabilities and Expertise
The joint venture combines complementary strengths:
- Premier Energies' manufacturing capabilities
- RCT's global energy-sector experience
- RCT's engineering expertise
- RCT's international supply-chain network
- RCT brings more than 10 GW of expertise in setting up BESS-related projects worldwide
- RCT has dedicated in-house engineering and operational capabilities for gigascale battery storage development projects in Europe
Market Context and Rationale
India's rapid expansion of renewable energy is driving the need for large-scale energy storage to:
- Manage intermittency of renewable power
- Enhance grid flexibility
- Support reliable power delivery
The partnership aims to contribute to the development of a robust domestic BESS manufacturing ecosystem while creating an export-oriented platform for India's growing energy-storage industry.
Strategic Significance for Premier Energies
For Premier Energies, this partnership represents a strategic step in its evolution from a leading solar cell and module manufacturer into a broader clean-energy company with capabilities spanning multiple segments of the renewable energy value chain.
Management Commentary
Mr. Chiranjeev Saluja, Managing Director, Premier Energies Limited:
"Energy storage is the need of the hour for the Indian power system. As India expands its renewable energy generation capacity, energy storage will play a critical role in enabling a reliable, resilient and sustainable power ecosystem. Our long-term partnership with RCT gives us access to this rapidly growing market. Our aim is to build globally competitive BESS products through this manufacturing platform in India, serving both domestic and international markets."
Mr. Sukumar Reddy Madugula, Managing Director, RCT India:
"This latest venture to establish a state-of-the-art battery manufacturing facility is a testament to the strength of our relationship with Premier Energies. We are excited to bring our global expertise, engineering capabilities and hands-on execution strengths to India's rapidly growing BESS sector. Together, we see a strong opportunity to build world-class energy storage capabilities in India and develop the facility as a platform to serve markets globally."
Expected Outcomes
The proposed facility is expected to:
- Strengthen India's domestic manufacturing capabilities in battery energy storage
- Create a platform to address growing requirements of renewable power developers
- Serve commercial and industrial consumers
- Support utility-scale projects in India and overseas
- Develop globally competitive BESS solutions for customers across key international markets
Company Background
Premier Energies Limited is a publicly listed company and one of India's leading integrated solar manufacturers with more than 30 years of solar manufacturing expertise. The company manufactures high-efficiency solar cells and modules and is expanding its integrated manufacturing capabilities across the solar value chain.