Premier Energies forms Battery Storage JV with RCT Nexor Energy

Premier Energies Limited, through its wholly-owned subsidiary Premier Battery Technologies Private Limited (PBTPL), has executed a Share Allotment cum Shareholders Agreement with RCT Nexor Energy Private Limited (formerly RCT Energy India Private Limited) to establish Premier Energies Storage Solutions Private Limited (PESSPL). This joint venture aims to set up a 12 GWh Battery Energy Storage System (BESS) manufacturing facility, with an initial phase of a 6 GWh plant in Telangana. The JV will cater to commercial, industrial, and utility-scale BESS applications. RCT Nexor Energy will receive equity in tranches, with an option for additional stake. The agreement outlines governance with a board comprising nominees from both parties.