Key Highlights
- Premier Energies executed a shareholders agreement for its battery energy storage system joint venture on October 15, 2026.
- The proposed BESS manufacturing facility will have a total planned capacity of 12 GWh in Telangana.
- The first phase of the project is planned with a capacity of 6 GWh and is expected to be set up in FY 2027-28.
- The facility is proposed to be established at Seetharampur, Telangana.
- RCT Nexor Energy can acquire a 15% equity stake through four milestone-linked tranches.
- RCT Nexor Energy has an option to subscribe for an additional 5% equity stake after Phase I, subject to the agreement.
- The joint venture will manufacture battery storage systems for residential, commercial, industrial and utility-scale applications.
- No immediate share issuance is proposed under the agreement.
Premier Energies Limited has executed a share allotment-cum-shareholders agreement for its proposed battery energy storage system (BESS) joint venture, which plans to establish a manufacturing facility with a total capacity of 12 GWh in Telangana. The agreement was signed on October 15, 2026, by Premier Battery Technologies Private Limited, RCT Nexor Energy Private Limited and Premier Energies Storage Solutions Private Limited.
The joint venture aims to manufacture and assemble battery energy storage systems for residential, small business, commercial, industrial and utility-scale applications. The proposed manufacturing facility will be developed in phases, with the first phase planned to have a capacity of 6 GWh.
Premier Energies BESS Joint Venture Details
Premier Battery Technologies Private Limited (PBTPL), a wholly owned subsidiary of Premier Energies, entered into a binding term sheet with RCT Energy India Private Limited on September 10, 2026. RCT Energy India has since changed its name to RCT Nexor Energy Private Limited and is part of Germany’s RCT Group.
The joint venture company, Premier Energies Storage Solutions Private Limited (PESSPL), is expected to establish the manufacturing facility at Seetharampur, Telangana. The first-phase 6 GWh plant is expected to be set up in FY 2027-28 as part of the proposed 12 GWh manufacturing project.
RCT Nexor Energy to Receive 15% Stake in Four Tranches
Under the agreement, RCT Nexor Energy will be eligible to acquire an aggregate 15% equity stake in the joint venture company through four milestone-linked tranches. The agreement also provides RCT Nexor Energy with the right, but not the obligation, to subscribe for an additional 5% equity interest in cash at the end of Phase I, subject to the agreed terms.
The joint venture company’s board will comprise two nominees from Premier Battery Technologies and one nominee from RCT Nexor Energy. The joint venture company is currently a wholly owned subsidiary of Premier Battery Technologies.
Premier Energies clarified that no immediate share issuance is proposed under the agreement. The company also stated that the transaction does not fall under related-party transactions and that the parties are not related to the promoter group or group companies in the manner specified in the regulatory disclosure.
Premier Energies Expands Into Battery Energy Storage Manufacturing
The proposed facility is designed to serve multiple battery storage applications, including residential energy storage, small businesses, commercial establishments, industrial facilities and utility-scale projects.
Battery energy storage systems store electricity for later use and can support energy management across different applications. Through the proposed joint venture, Premier Energies plans to enter the BESS manufacturing segment in partnership with RCT Nexor Energy.