Havells partners with Norway’s Pixii to develop BESS for India
Havells India Limited has announced a collaboration with Norway-based Pixii AS to develop and introduce Battery Energy Storage Systems (BESS) for the Indian market.
The partnership marks Havells’ entry into the energy storage sector and will focus on solutions for residential, commercial and industrial customers.
Phased localisation plan
Under the collaboration, the companies will follow a phased roadmap to establish a long-term BESS ecosystem in India.
The roadmap includes pilot installations to assess market requirements and validate commercial opportunities, co-development of an all-in-one energy storage solution, localisation of manufacturing in India, and development of products tailored to Indian customer requirements.
According to Havells, the partnership will combine Pixii’s modular energy storage technology with its market presence and distribution network in India.
Renewable energy expansion
The collaboration follows Havells’ recent expansion in the renewable energy sector. The company had earlier signed a binding term sheet to invest Rs 600 crore in Goldi Solar as part of the company’s proposed fundraising of up to Rs 1,300 crore.
Following the investment, Havells is expected to hold a stake of 8.90%-9.24% in Goldi Solar, depending on the size of the primary fundraising round. The transaction has been valued at a 20x EV/EBITDA multiple based on Goldi Solar’s unaudited provisional FY25 EBITDA.
Havells is also listed under the Ministry of New and Renewable Energy’s (MNRE) Approved List of Models and Manufacturers (ALMM) for solar photovoltaic (PV) modules. Earlier this year, the company was included in the ALMM for its Surat manufacturing facility with a capacity of 1,221 MW.
Market outlook
According to the company, India’s residential and commercial & industrial (C&I) BESS market is expected to reach approximately Rs 10,000-12,000 crore by FY30, driven by increasing renewable energy deployment and growing demand for energy storage solutions.
