Date: September 10, 2026
Joint Venture Announcement
Premier Battery Technologies Private Limited (PBTPL), a wholly-owned subsidiary of Premier Energies Limited, has entered into a binding Term Sheet on September 10, 2026, with RCT Energy India Private Limited (RCT India), part of RCT Group, Germany.
The joint venture will establish Premier Energies Storage Solutions Private Limited (PESSPL) as a strategic joint venture company for setting up a 12 GWh Battery Energy Storage System (BESS) manufacturing facility. The first phase will have a capacity of 6 GWh and is expected to be set up in FY 2027-28 at Seetharampur, Telangana.
The proposed joint venture company will cater to a range of BESS applications across commercial, industrial and utility-scale segments.
Shareholding Structure
PBTPL and RCT India agreed to have 85% and 15% Equity Shares of PESSPL, respectively, in phased manner, issued in compliance with applicable laws. RCT India has an option for a 5% additional shareholding in PESSPL, which would result in 80% and 20% shareholding of PBTPL and RCT India, respectively.
Governance and Timeline
The parties agreed to endeavor to achieve execution of the applicable agreements including the Shareholders' Agreement between the parties within 30 days from signing of the Term Sheet. The terms include the proposed shareholding, governance framework including composition of the Board of Directors, respective roles and responsibilities, and timeline for various milestones.
Related Party Status
The Company, PBTPL, PESSPL or any group entity does not hold any shareholding in RCT India. The transaction does not fall within related party transactions and the parties are not related to promoter/promoter group/group companies in any manner. There is no proposal to nominate any director(s) on the Board of Directors of the listed entity.