Havells India Enters Battery Energy Storage with Pixii AS, Targeting Local Manufacturing

Lead

Havells India Limited has announced its entry into the Battery Energy Storage Systems (BESS) segment in India through a strategic collaboration with Pixii AS, a Norway-based energy storage technology company. This partnership aims to develop and introduce advanced BESS solutions for the Indian market, strengthening Havells' position in the nation's evolving energy transition landscape. The collaboration is set to follow a phased roadmap towards establishing a long-term BESS ecosystem in India.

Key highlights

• Strategic collaboration with Pixii AS to develop and introduce advanced Battery Energy Storage Systems in India.
• Target segments for BESS include small scale, commercial, and industrial customers.
• Partnership leverages Havells' manufacturing, sales, distribution, and market understanding with Pixii's globally proven energy storage technology.
• Phased roadmap includes pilot installations, co-development of an all-in-one energy storage solution, and progression towards local manufacturing in India.
• The Memorandum of Understanding (MoU) was signed in the presence of the Ambassador of Norway to India.

Strategic rationale

Havells India is undertaking this collaboration to strengthen its footprint in India's energy transition. By integrating Pixii's modular battery energy storage technology, the company aims to provide reliable, efficient, and scalable energy solutions. This move seeks to contribute to India's clean energy goals, expanding Havells' energy solutions portfolio and localizing technology for the Indian market.

Focus areas

The collaboration will initially focus on understanding Indian market requirements through pilot installations to validate commercial opportunities. Subsequently, the partners will co-develop an all-in-one energy storage solution. The long-term vision includes local manufacturing of these products in India and co-development of solutions specifically tailored for Indian customers.

Why it matters

This strategic collaboration positions Havells India to address the growing demand for reliable power infrastructure and accelerate renewable energy adoption in India. By entering the BESS market, particularly for small-scale, commercial, and industrial segments, the company is aligning with India's broader sustainability objectives and expanding its offerings in a critical infrastructure space. The Indian Battery Energy Storage System market for Residential, C&I segments is anticipated to reach approximately ₹10,000-12,000 crore by FY29-30, with a projected CAGR exceeding 100% over the next three years, indicating significant growth potential.

What to watch

The market will be watching for updates on the progress of pilot installations, announcements regarding the co-development of energy storage solutions, and subsequent plans for establishing local manufacturing facilities in India.

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SOURCE: NSE Filing 106692233