SWELECT Energy Systems Limited has approved a strategic partnership with FortifyGrid LLC to expand its presence in the global battery energy storage market. The decision was taken on February 17, 2026, by the Investment Committee of the company’s Board of Directors. As part of this partnership, the two companies will form a new joint venture company in India. The proposed name of the entity will be SWELECT FortifyGrid India Private Limited or SWELECT FG India Private Limited.
The new joint venture will focus on the development and installation of Solar Battery Energy Storage Systems (BESS). This move is aimed at strengthening SWELECT’s position in the fast-growing energy storage segment, especially in international markets. By partnering with the US-based FortifyGrid LLC, SWELECT plans to benefit from advanced artificial intelligence technologies and technical expertise in energy storage solutions. The collaboration is expected to enhance the company’s capabilities in delivering efficient and reliable solar-plus-storage projects.
According to the approved structure, the joint venture will be formed with an equal 50:50 investment ratio. Both SWELECT Energy Systems Limited and FortifyGrid LLC will contribute an initial subscription amount of ₹5,00,000 each. The partners will subscribe to 5,000 equity shares each at a face value of ₹10 per share. Although the new company will be incorporated in India, the partnership is considered international in nature because one of the promoters is based in the United States.
The scope of the joint venture will cover key stages of the BESS project lifecycle. These include design and engineering activities, where technical plans and system layouts will be developed for solar storage projects. The company will also handle procurement and vendor coordination, ensuring smooth supply chain management and sourcing of required components. In addition, the venture will oversee project management functions such as cost estimation, scheduling, and reporting. Construction controls, including off-site construction management and project supervision, will also fall under its responsibilities.
SWELECT clarified that the joint venture will become a related party only after its official incorporation. The incorporation process is subject to approval from the Ministry of Corporate Affairs in India. The company has informed both the BSE Limited and the National Stock Exchange of India Limited about this development in compliance with SEBI’s Listing Obligations and Disclosure Requirements. Further details of the partnership will also be made available on the company’s official website for public access.
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