Sigenergy intends to allocate an initial $250 million in India to create manufacturing plants for inverters and battery energy storage systems, as the nation develops infrastructure to accommodate increasing renewable energy capacity.
The company is currently investigating potential sites for the facility.
Sigenergy started its operations in India earlier this year. Following the inverter plant, there are plans to set up a factory for battery energy storage systems, anticipated to be operational six to eight months thereafter, Morde mentioned during the Renewable Energy India Expo.
The suggested facilities would provide the company with a local production center for devices utilized to transform and handle electricity produced from renewable sources. Inverters play a crucial role in linking solar and other renewable-energy systems to electrical grids, while battery storage assists in managing supply during variations in renewable generation.
Morde stated that Sigenergy intends to set up a research and development center in India concentrating on battery energy storage solutions.
The company has met India's regulations for local data storage and is pursuing investment approvals, he states.
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India is swiftly increasing its renewable-energy capacity and large-scale energy storage as it strives to achieve its clean-energy objectives. This expansion is generating demand for equipment producers as utilities and energy firms look for systems capable of storing electricity and aiding in grid management.
Sigenergy designs and produces energy storage solutions for both residential and commercial clients. Its range of products consists of batteries, inverters, and energy management software. The proposed Indian operations of the company would encompass both the manufacturing of physical equipment and associated energy-management functions.
The investment strategy follows Sigenergy's launch on the Hong Kong stock exchange in April. The firm secured HK$4.4 billion, equivalent to $562 million, via its initial public offering. The manufacturing and research initiatives in India depend on the company obtaining sites and the necessary investment approvals.
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The upcoming milestone is the planned commissioning of the inverter plant by the second quarter of 2027, with the battery energy storage facility expected to follow six to eight months afterward.
Previously, Sigenergy introduced a 166 kW inverter designed for commercial and industrial (C&I) PV systems. The firm stated that the product aims to enhance power density and system efficiency through upgraded power electronics, intending to ease integration for companies implementing solar and storage in combination. According to the company, the new inverter is capable of functioning at heights of up to 5,000 m, experiencing performance reduction beginning at 4,000 m, thus making it ideal for solar farms located at high elevations.
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The introduction of the new product coincided with the opening of Sigenergy’s Nantong Smart Energy Center in Jiangsu province. The firm characterized the facility as a fresh manufacturing foundation for international growth and a tangible support for its “AI in All” approach.