The Chinese energy storage system manufacturer Sigenergy intends to invest an initial $250 million in India to establish production facilities for inverters and battery energy storage systems.
According to a senior executive of the company, Sigenergy began its operations in India earlier this year. The first step will be the construction of an inverter manufacturing plant, which is expected to start operating in the second quarter of 2027. Rahul Murde, head of sales for Sigenergy India, informed Reuters agency about this.
The company is currently studying potential locations for the placement of this factory. After the completion of the inverter complex, Sigenergy plans to create a battery energy storage system manufacturing plant, which should become operational six to eight months after the launch of the first site, Murde added at the Renewable Energy India Expo.
Furthermore, the company intends to establish a research and development center in India specializing in battery energy storage systems. Murde also noted that Sigenergy complies with Indian regulations regarding data storage within the country and is currently obtaining investment approvals.
India aims to accelerate the expansion of renewable energy and energy storage capacity at the grid level to support its clean energy goals, creating opportunities for manufacturers.
Sigenergy develops and produces energy storage systems, including battery products, inverters, and energy management software designed for both residential and commercial clients. The company debuted on the Hong Kong Stock Exchange in April following an initial public offering, during which it raised HK$4.4 billion ($562 million).