SWELECT Energy Systems Limited has approved a strategic partnership with US-based FortifyGrid LLC to expand its footprint in the global battery energy storage systems (BESS) market.
The decision was cleared on February 17, 2026, by the Investment Committee of SWELECT’s Board of Directors. As part of the agreement, the companies will establish a new 50:50 joint venture in India, proposed to be named SWELECT FortifyGrid India Private Limited or SWELECT FG India Private Limited.
The joint venture will focus on the development and installation of solar battery energy storage systems, strengthening SWELECT’s presence in the fast-growing energy storage segment, particularly in international markets. Through the collaboration, SWELECT aims to leverage FortifyGrid’s expertise and artificial intelligence-driven technologies in advanced energy storage solutions to enhance efficiency and reliability in solar-plus-storage projects.
Under the approved structure, both partners will make an initial investment of ₹5,00,000 each, subscribing to 5,000 equity shares at a face value of ₹10 per share. Although the entity will be incorporated in India, the partnership has an international character due to FortifyGrid’s US origin.
The scope of the venture will span the full BESS project lifecycle, including design and engineering, procurement and vendor coordination, project management, cost estimation, scheduling, reporting and construction supervision.
SWELECT stated that the joint venture will be considered a related party after formal incorporation, which remains subject to approval from the Ministry of Corporate Affairs. The company has informed both BSE Limited and the National Stock Exchange of India Limited in compliance with SEBI’s Listing Obligations and Disclosure Requirements. Further details are expected to be published on the company’s official website.
The move reflects SWELECT’s strategy to deepen its participation in integrated solar and storage solutions as demand for grid stability and renewable integration accelerates globally.
