Swelect Energy Systems Limited has announced a strategic partnership with FortifyGrid LLC, USA, to establish a Joint Venture (JV) company in India. The JV, named SWELECT Fortify Grid India Private Limited or SWELECT FG India Private Limited, will focus on the development and installation of Solar Battery Energy Storage Systems (BESS). The Investment Committee of Swelect Energy Systems' Board of Directors approved this proposal on February 17, 2026. This collaboration aims to strengthen the company's presence in the BESS business ecosystem, particularly in the international market, aligning with its strategic objectives. The JV will be incorporated in India with a 50:50 investment ratio between Swelect Energy Systems Limited and FortifyGrid LLC. Each partner will initially subscribe to 5,000 shares at ₹10 per share, with an initial investment of ₹5,00,000 each. The JV's scope of business includes design and engineering, procurement support, cost estimation, scheduling, project reporting, off-site construction, and project management for BESS projects. The rationale behind this JV is to leverage FortifyGrid's expertise in energy storage and AI to enhance Swelect's brand traction in overseas markets. This partnership is expected to fortify the company's foothold in the international BESS market.
