Havells India Limited, a leading Fast-Moving Electrical Goods and consumer durables company, today announced a strategic collaboration with Pixii AS, a Norway-based energy storage technology company, to develop and introduce advanced Battery Energy Storage Systems for the Indian market.
The Memorandum of Understanding was signed in the presence of H.E. Ms. May-Elin Stener, Ambassador of Norway to India, along with senior representatives from the Embassy of Norway, Havells India, and Pixii. The collaboration combines Havells' manufacturing base, sales network, and market understanding with Pixii's globally proven modular storage technology.
The partnership will follow a phased roadmap to build a long-term energy storage ecosystem in India. The phases include pilot installations to validate commercial opportunities, co-development of an all-in-one energy storage solution, and a move toward local manufacturing of products tailored to Indian customers.
India's Battery Energy Storage System market for residential and C&I segments is expected to reach about Rs 10,000 to 12,000 crore by FY30, growing at over 100 percent CAGR over the next three years. Havells and Pixii aim to introduce proven technology and drive local innovation.
Havells India Limited has a presence across 60 countries and owns brands including Havells, Lloyd, Crabtree, Standard, and Reo. Pixii AS is a Norwegian battery energy storage company headquartered in Kristiansand with operations across Europe, Asia-Pacific, and the Americas.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.