Premier Energies Limited, through its wholly-owned subsidiary Premier Battery Technologies Private Limited (PBTPL), has signed a Share Allotment cum Shareholders Agreement with RCT Nexor Energy Private Limited and Premier Energies Storage Solutions Private Limited (PESSPL) to establish a 12 GWh battery energy storage system (BESS) manufacturing joint venture.
Executed on October 15, 2026, the agreement outlines the terms for setting up a semi-automated or fully automated manufacturing facility to produce and assemble BESS products for residential, small business, commercial, industrial and utility-scale applications.
The agreement follows a binding term sheet signed on September 10, 2026, between PBTPL and RCT Energy India Private Limited, now known as RCT Nexor Energy Private Limited. The proposed venture aims to strengthen Premier Energies’ presence in the battery storage market through domestic manufacturing and collaboration with RCT Group, Germany.
6 GWh First Phase Planned in Telangana
The proposed manufacturing facility will have a total planned capacity of 12 GWh, with the first phase involving 6 GWh of capacity. The initial phase is expected to be established in FY 2027–28 at Seetharampur, Telangana.
The joint venture is intended to supply energy storage systems for multiple market segments, including commercial, industrial and utility-scale applications.
PESSPL, the joint venture entity, is currently a wholly-owned subsidiary of PBTPL. Its board will comprise two nominees from PBTPL and one nominee from RCT Nexor Energy.
Equity Allotment and Joint Venture Structure
Under the agreement, RCT Nexor Energy will receive equity shares representing 15% of PESSPL’s issued and paid-up share capital through four milestone-linked tranches. The agreement also gives RCT Nexor Energy the option, but not the obligation, to subscribe for an additional 5% equity stake for cash consideration after completion of Phase I, subject to the agreed terms.
The share allotment will take place in stages, and no immediate issuance of shares is proposed.
Premier Energies and its group entities do not hold shares in RCT Nexor Energy or any other RCT Group entity. The parties are not related to Premier Energies’ promoter or promoter group, and the transaction has been disclosed as not constituting a related-party transaction.
The agreement formalises the joint venture’s governance and equity arrangements as the partners prepare to develop manufacturing capacity for battery energy storage systems in India.
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