Through its subsidiary Premier Battery Technologies, Premier Energies has signed a shareholders agreement with RCT Nexor Energy for a 12 GWh BESS manufacturing joint venture at Seetharampur in Telangana, India. Under the agreement, RCT Nexor is to be allotted 15% of the venture in four milestone-linked tranches, while the first phase of 6 GWh is expected in FY 27-28.
Snapshot
Factory capacity: 12 GWh
First phase: 6 GWh
Phase I timing: FY 27-28
Site: Seetharampur
JV company: PESSPL
RCT Nexor stake: 15%
Optional top-up: 5%
Allotment tranches: Four
Agreement date: 15 October
Location: Telangana, India
Premier Energies, an India-based solar manufacturer, has taken its planned 12 GWh BESS factory in Telangana, India, from a term sheet to a signed agreement. On 15 October 2026, its wholly-owned subsidiary Premier Battery Technologies, the joint venture company Premier Energies Storage Solutions and RCT Nexor Energy executed a share allotment cum shareholders agreement, which sets out the terms on which the joint venture is to be governed.
RCT Nexor Energy, which was formerly known as RCT Energy India, is a part of RCT Group of Germany. Under the agreement, it is to be allotted equity shares that add up to 15% of the issued and paid-up equity capital of the joint venture company, and the allotment is to be made in four tranches, each of which is linked to a milestone. In addition, it will have the right, but not the obligation, to subscribe for a further 5% equity interest for cash at the end of Phase I. For the present, the joint venture company is a wholly-owned subsidiary of Premier Battery Technologies, which is to nominate two of the three members of its board, while RCT Nexor Energy is to nominate the third.
The factory is to be built at Seetharampur in Telangana, where it has been planned with a total capacity of 12 GWh. Its first phase, which is to have a capacity of 6 GWh, is expected to be set up in FY 27-28. Once it is in operation, the facility, which may be semi-automated or fully automated, will produce, assemble and sell BESS products for residential, small business, commercial, industrial and utility-scale applications.
The agreement has followed a binding term sheet, which the two groups had entered into on 10 September 2026. In that announcement, Premier Energies had described the factory as an export-oriented manufacturing platform, which is expected to serve the demand for energy storage in India and in international markets. It had also called the partnership a step in its growth from a maker of solar cells and modules into a broader clean energy company.
Premier Energies is a listed company whose head office is in Hyderabad, India, and it has been in solar manufacturing for more than 30 years, with high-efficiency solar cells and modules among its products.