News Synopsis
Snapshot
Partners - Havells India and Pixii signed a memorandum of understanding.
Collaboration scope - The companies will jointly develop modular battery energy storage systems.
Target segments - The products will serve residential, commercial and industrial users.
Initial phase - Pilot installations will assess market requirements and commercial opportunities.
Product plan - The partners will co-develop an all-in-one battery energy storage system.
Manufacturing plan - The collaboration includes plans to localise manufacturing in India.
Market forecast - Havells expects the target BESS market to reach INR 10,000 crore to INR 12,000 crore by FY30.
Havells India, an electrical goods and consumer durables company, has signed a memorandum of understanding with Norway-based energy storage technology company Pixii. The collaboration covers the development and introduction of modular battery energy storage systems for the Indian market.
The proposed systems will target residential, commercial and industrial customers. Under the companies’ phased roadmap, the programme will begin with pilot installations intended to assess market requirements and validate commercial opportunities.
Findings from the pilot phase will inform the joint development of an all-in-one battery energy storage system. The partnership also includes plans to tailor products for Indian customers and localise manufacturing in India.
Thomas Ingebretsen, CEO of Pixii, said that the partnership would unite Pixii’s technology with Havells’ market expertise, manufacturing strength and customer network. The MoU was signed in the presence of May-Elin Stener, Norway’s Ambassador to India, along with representatives from the Norwegian Embassy, Havells India and Pixii.
Havells estimates that India’s residential and C&I BESS market will reach INR 10,000 crore to INR 12,000 crore by FY2030. It also expects demand across these segments to expand at a CAGR of more than 100% over the next three years.