Premier Energies and RCT India, part of Germany's RCT Group, have signed a binding term sheet to establish a joint venture for battery energy storage manufacturing. According to latest reports, the facility will be developed through Premier Energies' wholly owned subsidiary, Premier Battery Technologies Pvt. Ltd., with the first phase planned at 6 GWh capacity. The partnership aims to contribute to the development of a robust domestic BESS manufacturing ecosystem in India while serving as an export platform for the country's growing energy-storage industry.
The proposed plant will manufacture battery storage systems for commercial, industrial and utility-scale applications in India and overseas markets. The facility is designed to meet the rapidly increasing demand for energy storage solutions across these segments, both within India and in international markets. The joint venture will combine Premier Energies' manufacturing capabilities with RCT's energy-sector experience, engineering expertise and international supply-chain network, leveraging RCT Solutions Group's over 10 GW of expertise in setting up BESS-related projects globally.
For Premier Energies, this venture marks an expansion beyond its existing solar cell and module manufacturing operations into battery energy storage systems. As reported by Business Standard, the proposed facility comes as India's renewable energy capacity expands, increasing the need for storage to help manage fluctuations in renewable power generation, improve grid flexibility and support more reliable electricity supply. Premier Energies Managing Director Chiranjeev Saluja emphasized that energy storage would become increasingly important as India expands its renewable power generation capacity, stating that energy storage is the need of the hour for the Indian power system and will play a critical role in enabling a reliable, resilient and sustainable power ecosystem.
RCT India Managing Director Sukumar Reddy Madugula stated that the company would bring its global expertise, engineering capabilities and execution experience to the venture. As reported by Business Standard, the partnership leverages RCT's energy-sector experience and international supply-chain network to support the manufacturing operations. RCT India is excited to bring its global expertise, engineering capabilities and hands-on execution strengths to India's rapidly growing BESS sector, with the company seeing strong opportunity to build world-class energy storage capabilities in India and develop the facility as a platform to serve markets globally.
Premier Energies has demonstrated strong financial performance with consolidated Q1 FY27 Net Profit (PAT) increasing by 50.45% YoY to ₹463.07 crore, while total revenue rose 35.25% YoY to ₹2,462.59 crore compared to Q1 FY26. The company's total order book reached ₹15,000 crore as of June 30, 2026, which is nearly double its FY26 consolidated revenue of ₹7,824 crore. Shares of Premier Energies closed at ₹964.80 on September 11, down 0.54% from the previous close. The company also achieved a credit rating upgrade to 'A+/Positive' by CRISIL in August 2026, reflecting improved financial resilience. Premier Energies Limited is a publicly listed company and one of India's leading integrated solar manufacturers with over 30 years of experience.
