Premier Energies signs the shareholders’ agreement for a 12 GWh battery storage joint venture with RCT Group

Premier Energies Limited has told the exchanges that its wholly owned subsidiary, Premier Battery Technologies Private Limited (PBTPL), RCT Nexor Energy Private Limited (formerly RCT Energy India Private Limited, part of Germany's RCT Group) and the joint venture company, Premier Energies Storage Solutions Private Limited (PESSPL), executed a Share Allotment cum Shareholders Agreement on 15 Oct 2026.

The joint venture will set up a battery energy storage system (BESS) manufacturing facility of 12 GWh, with a first phase of 6 GWh expected to be set up in FY2027-28 at Seetharampur, Telangana. It will serve commercial, industrial and utility-scale applications. The binding term sheet was signed on 10 Sep 2026.

The joint venture company is currently a wholly owned subsidiary of PBTPL. The agreement provides for milestone-linked allotment of equity shares totalling 15% of the joint venture's capital to RCT in four tranches, and gives RCT the right, but not the obligation, to subscribe for another 5% for cash at the end of Phase I. The board will have two nominees of PBTPL and one of RCT, and neither the company nor its group entities hold shares in RCT.

Inference

For shareholders, the filing turns an earlier term sheet into a signed agreement, so the structure of the joint venture is now set: Premier keeps a large majority, and RCT's stake rises through milestones. The investment amount and funding are not stated in this filing.

The plant is expected in FY2027-28, and the first phase is half of the planned capacity. Investors may want to follow the capital commitment, the milestones that trigger RCT's shares and the company's later disclosures on construction and customers.