Premier Energies arm signs binding term sheet for 12 GWh BESS JV with German partner
PREMIERENE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Premier Energies' wholly-owned subsidiary PBTPL has signed a binding term sheet with Germany's RCT Energy India to set up a joint venture called PESSPL. The JV will build a 12 GWh Battery Energy Storage System (BESS) manufacturing facility in Seetharampur, Telangana, with the first 6 GWh phase expected in FY27-28. PBTPL will hold 85 percent and RCT India 15 percent, with an option for RCT to increase to 20 percent. The facility will serve commercial, industrial and utility-scale BESS markets in India and abroad.
Positive signal. Entry into the fast-growing BESS segment with a global German partner diversifies revenue and adds a new growth vertical.