Premier Energies Limited has announced the execution of a Share Allotment cum Shareholders Agreement for establishing a 12 GWh Battery Energy Storage System (BESS) manufacturing facility through its wholly owned subsidiary, Premier Battery Technologies Private Limited (PBTPL), in partnership with RCT Nexor Energy Private Limited, formerly known as RCT Energy India Private Limited, part of Germany’s RCT Group.
The agreement was executed on October 15, 2026, by PBTPL, RCT Nexor Energy Private Limited and Premier Energies Storage Solutions Private Limited (PESSPL), the proposed joint venture company. It sets out the terms governing the joint venture.
The joint venture plans to establish a 12 GWh BESS manufacturing facility at Seetharampur, Telangana, with the first phase comprising a 6 GWh plant expected to be set up in FY 2027–28. The facility will cater to BESS applications across residential, small business, commercial, industrial and utility-scale segments.
Under the agreement, the board of PESSPL will comprise two nominees of PBTPL and one nominee of RCT Nexor Energy Private Limited. The agreement provides for milestone-linked allotment of equity shares representing 15% of the joint venture company’s issued and paid-up equity share capital to RCT Nexor Energy Private Limited in four tranches.
RCT Nexor Energy Private Limited will also have the right, but not the obligation, to subscribe to an additional 5% equity interest in the joint venture for cash consideration at the end of Phase I, subject to the terms of the agreement.
