According to Reuters on October 23, Sigenergy will form a joint venture with Indian local firm Failte Energy. The first-phase investment is planned at USD 250 million (approximately RMB 1.68 billion) to manufacture inverters and energy storage systems, alongside a supporting energy storage R&D center.
The information was disclosed to Reuters by Rahul Morde, Sigenergy’s India Sales Head, on the sidelines of the Renewable Energy India Expo.
Per the plan, the project will be rolled out in two phases. The Phase I inverter factory is scheduled to commence operation in Q2 2027. The Phase II energy storage system plant is expected to come online 6 to 8 months after the inverter production line goes into operation. The two parties will also develop a battery energy storage system R&D center in parallel.
Rahul Morde stated that Sigenergy has officially entered the Indian market, and all of the company’s product solutions comply with India’s local data residency compliance requirements.
Site selection for the joint venture project is still underway, and relevant investment approval procedures are in progress. The plant location and production capacity have not yet been announced. It should be noted that this information comes from an interview at the exhibition and is not an official announcement from a listed company.
Source：EnergyTrend