Havells enters battery energy storage segment with Pixii AS
Havells India Limited has formed a strategic partnership with Pixii AS to introduce advanced Battery Energy Storage Systems (BESS) in India, targeting small-scale, commercial, and industrial sectors. The collaboration follows a phased roadmap involving pilot installations, co-development of solutions, and local manufacturing, supported by a Memorandum of Understanding signed in the presence of the Norwegian Ambassador. The Indian BESS market is projected to reach ~10-12k INR Cr. by FY30, growing at over 100% CAGR, driven by renewable energy adoption and infrastructure needs.
*this image is generated using AI for illustrative purposes only.
Havells India Limited has entered a strategic collaboration with Pixii AS, a Norway-based energy storage technology company, to develop and introduce advanced Battery Energy Storage Systems (BESS) for the Indian market. This partnership aims to strengthen Havells' position in India's evolving energy transition landscape by combining its manufacturing and distribution network with Pixii's global technology. The collaboration targets small-scale, commercial, and industrial segments, focusing on reliable and scalable solutions to support the country's clean energy transition.
MoU Signing and Phased Roadmap
The Memorandum of Understanding (MoU) was signed in the presence of H.E. Ms. May-Elin Stener, Ambassador of Norway to India. The companies outlined a phased roadmap designed to systematically build a localised BESS ecosystem in India.
| Phase | Details |
|---|---|
| Phase 1 | Pilot installations to understand market requirements and validate commercial opportunities |
| Phase 2 | Co-development of all-in-one energy storage solutions |
| Phase 3 | Local manufacturing of products tailored to Indian customers |
Leadership Perspectives
Reshu Madan, SBU Head – Renewables, Havells India Limited, stated that the collaboration brings global innovation to India. Aseem Goyal, BU Head – Renewables, added that the move strengthens the company's commitment to expanding its energy solutions portfolio and contributing to India's sustainability goals through localization. Thomas Ingebretsen, CEO of Pixii AS, highlighted that India represents a significant growth market for energy storage, noting that the collaboration combines Pixii's differentiated technology with Havells' market expertise and manufacturing strength to address the needs of Indian homes and businesses.
Market Opportunity
The Indian Battery Energy Storage System market for residential, commercial, and industrial segments presents a substantial growth opportunity, as outlined below.
| Parameter | Details |
|---|---|
| Projected Market Size by FY30 | ~10-12k INR Cr. |
| Projected CAGR (Next 3 Years) | >100% |
| Key Growth Drivers | Accelerating renewable energy adoption and increasing need for reliable power infrastructure |
| Target Segments | Residential, commercial, and industrial |
The market is projected to grow at a CAGR of over 100% during the next three years, driven by accelerating renewable energy adoption and the increasing need for reliable power infrastructure across India.
Historical Stock Returns for Havells
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.20% | +0.14% | +3.29% | -18.88% | -22.01% | +16.13% |
What is the expected timeline for the completion of Phase 1 pilot installations and the subsequent transition to Phase 2?
How will the collaboration navigate the regulatory landscape and government incentives to achieve cost competitiveness in the Indian BESS market?
What specific strategies will be employed to localize the manufacturing supply chain by Phase 3 to reduce import dependency?
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