Swelect Energy Systems to Form Joint Venture Company in Singapore for Solar BESS Development

Swelect Energy Systems Ltd. has announced its intention to establish a joint venture company in Singapore through its wholly owned subsidiary, SWELECT ENERGY SYSTEMS PTE. LTD. The joint venture will be formed with FortifyGrid LLC SYSTEMS PTE LTD., a wholly owned subsidiary of FortifyGrid LLC, USA. The joint venture company will focus on the development and installation of Solar BESS in Singapore and other countries in the ASEAN region. The investment committee of the board of directors has approved the proposal. The joint venture company will provide joint design, engineering, procurement, off-site project/construction management and project controls for BESS projects, with SWELECT Energy Systems Pte. Ltd. holding 50% of the share capital and FortifyGrid LLC holding the remaining 50%.