Premier Energies, one of India’s largest integrated solar manufacturers, has signed a binding term sheet with RCT India, part of Germany’s RCT Group, to set up a joint venture for battery energy storage system (BESS) manufacturing in Telangana. The company disclosed the development in a regulatory filing to the BSE and the NSE on September 10.
The move marks Premier Energies’ first major push beyond solar cells and modules, the business that has defined the company since it was founded three decades ago.
12 GWh BESS plant in Telangana
The joint venture plans to build a 12 GWh BESS manufacturing facility, according to the disclosure. The first phase will be set up at 6 GWh capacity.
The facility will be developed through Premier Battery Technologies Pvt. Ltd., a subsidiary of Premier Energies. It is expected to serve commercial, industrial and utility-scale customers.
The company has also positioned the plant as an export platform. The partners intend to serve international markets from India, drawing on RCT’s experience in global energy projects and Premier Energies’ manufacturing base.
“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.” Sukumar Reddy Madugula, Managing Director, RCT India, said.
Why Premier Energies is entering battery storage
The rationale, as per the filing, rests on India’s renewable energy build-out. As solar and wind capacity expands, grid operators need more storage to manage intermittent power supply and keep the system stable.
“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.” Chiranjeev Saluja, Managing Director of Premier Energies, said.
RCT Solutions Group has over 10 GW of experience in setting up BESS-related projects globally, with engineering and operational work concentrated on large-scale battery storage projects in Europe.
Premier Energies expands beyond solar manufacturing
For Premier Energies, the deal fits a broader shift the company has signalled: moving from a pure-play solar cell and module manufacturer toward a company with a presence across several segments of the clean energy value chain.
The disclosure did not include financial details of the joint venture, such as investment size or equity split between the two partners. It also did not specify a timeline for the first phase of the facility to become operational.
About Premier Energies
Premier Energies is a publicly listed Hyderabad-based company and one of India’s leading integrated solar manufacturers. Founded in 1995 by Surendarpal Singh Saluja, the company has more than 30 years of experience in solar manufacturing and produces high-efficiency solar cells and modules, including monofacial and bifacial variants, along with EPC and operations and maintenance services.
It holds close to the entire share of solar cell exports from India to the United States and is among the first Indian manufacturers to produce TOPCon solar cells.
Premier Energies share price today
Premier Energies’ share price was down 0.47% as of early trade. The company’s share price was down 7.86% in the past month. Furthermore, Premier Energies’ share price has been down 9.82% in the last year.