Premier Energies Limited’s wholly owned subsidiary, Premier Battery Technologies Private Limited (PBTPL), has executed a share allotment cum shareholders agreement with RCT Nexor Energy Private Limited, part of Germany’s RCT Group, to formalise Premier Energies Storage Solutions Private Limited (PESSPL) as a joint venture (JV) company of PBTPL and RCT Nexor Energy.
The agreement formalised the joint venture announced in September 2026 between PBTPL and RCT Nexor Energy. PESSPL will establish a 12 GWh battery energy storage system (BESS) manufacturing facility at Seetharampur in Telangana, with the first 6 GWh phase expected to be set up in FY 2027-28. The facility will manufacture and assemble BESS products for residential, small business, commercial, industrial and utility-scale applications. PESSPL is currently a wholly owned subsidiary of PBTPL. Under the agreement, RCT Nexor Energy will receive a 15 per cent equity interest in PESSPL through four milestone-linked allotments and will have the option to acquire an additional 5 per cent stake after completion of Phase I.
