Premier Energies Sets Up Singapore Subsidiary, Consolidates Battery Storage Operations

Premier Energies Limited has approved two major corporate decisions aimed at expanding its international presence and streamlining its battery and energy storage businesses.

At its Board of Directors meeting held on September 1, 2026, the company approved the establishment of a wholly-owned subsidiary in Singapore, provisionally named PE Horizon Pte. Ltd. The new entity will operate in the clean energy sector and undertake activities including trading, management consulting, ancillary services and dealings related to capital goods.

To support the overseas expansion, Premier Energies approved an Overseas Direct Investment (ODI) of up to SGD 1,00,000. The initial investment will be SGD 10,000 for 10,000 ordinary shares, providing Premier Energies with 100% ownership of the Singapore-based company.

In a separate decision, the board approved an internal restructuring of its battery and energy storage businesses. Under the restructuring, Premier Energies will transfer its entire shareholding in Premier Energies Storage Solutions Private Limited (PESSPL) to its wholly-owned subsidiary, Premier Battery Technologies Private Limited (PBTPL).

The transaction will be completed through a non-cash share swap based on an independent fair valuation. As part of the arrangement, PBTPL will issue 8,50,579 equity shares valued at ₹85,05,790 to Premier Energies.

Following the transaction, PESSPL will become a step-down subsidiary of Premier Energies through PBTPL. Incorporated on July 15, 2026, PBTPL is focused on battery energy storage systems, battery cells, and related hardware and software.

The company said the restructuring will simplify its corporate holding structure while maintaining the same ultimate beneficial ownership and control. The transaction has been reviewed by the Audit Committee as an arm’s-length arrangement and is expected to be completed within 60 days.