15-Oct-2026 19:00:07
PREMIERENE : SUBSIDIARY EXECUTES JV AGREEMENT FOR 12 GWH BESS PLANT
• Wholly-owned subsidiary PBTPL, RCT Nexor Energy (formerly RCT Energy India) and PESSPL executed Share Allotment cum Shareholders Agreement on October 15, 2026 • JV to set up 12 GWh BESS manufacturing facility, including first phase 6 GWh plant, expected in FY27-28 at Seetharampur, Telangana • PESSPL, currently a wholly owned subsidiary of PBTPL, will cater to residential, small business, commercial, industrial and utility-scale BESS applications • Agreement provides milestone-linked allotment of equity shares aggregating 15% of PESSPL's issued and paid-up capital to RCT India in four tranches • RCT India has right, but not obligation, to subscribe for additional 5% equity interest for cash consideration at end of Phase I • JV Company Board to comprise two PBTPL nominees and one RCT India nominee
Premier Energies Limited
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