SWELECT Energy Systems Ltd has approved a 50:50 joint venture with US-based FortifyGrid LLC to establish a new company in India focused on Solar Battery Energy Storage Systems (BESS). The JV aims to strengthen SWELECT’s global presence in renewable energy storage and enhance its technological edge in the international market.
SWELECT Energy Systems Ltd announced on February 17, 2026, that its Board has approved a strategic partnership with FortifyGrid LLC, USA, to form a joint venture in India. The new entity will specialize in Solar BESS development and installation, aligning with SWELECT’s long-term vision of expanding its footprint in the energy storage ecosystem.
Key Highlights
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The proposed JV will be incorporated in India under the name SWELECT FortifyGrid India Private Limited or a similar MCA-approved name
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Ownership will be equally split, with SWELECT and FortifyGrid each holding 50% stake through an initial subscription of INR 5,00,000 each (5000 shares at Rs.10 per share)
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Business scope includes design and engineering, procurement support, vendor coordination, cost estimation, scheduling, project reporting, and off-site construction management for BESS projects
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The JV is expected to leverage FortifyGrid’s expertise in AI-driven energy storage solutions to boost SWELECT’s brand visibility in overseas markets
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Regulatory approval from the Ministry of Corporate Affairs is required before incorporation
This collaboration marks a significant step in SWELECT’s strategy to integrate advanced energy storage technologies and expand its international presence.
Source: SWELECT Energy Systems Ltd, BSE Filing, NSE Announcement