Chennai: Renewable energy company Swelect Energy Systems (formerly Numeric Power Systems) plans to launch its commercial and industrial (C&I) Battery Energy Storage System (BESS) solutions integrated with hybrid inverters during this quarter, marking its formal entry into the fast-growing energy storage market that is expected to become a key growth driver for the company.The company is positioning energy storage as a natural extension of its renewable energy business, citing rapidly falling battery prices, the introduction of time-of-day electricity tariffs, rising renewable energy penetration and increasing demand for reliable power as the key factors driving the adoption of BESS solutions, said Arulkumar Shanmugasundaram, CEO and MD of the company.As part of its expansion strategy, Swelect will commission a 10 MWh battery energy storage system at its solar photovoltaic (SHPV) manufacturing facility in Coimbatore during the year. The project is expected to provide operational experience as the company scales up its storage business while demonstrating the viability of large-scale battery-backed energy solutions.The company has also secured a 5 MWh rooftop BESS order from a commercial and industrial customer, indicating growing acceptance of storage-integrated renewable energy solutions in the C&I segmen .Further strengthening its integrated clean energy portfolio, Swelect has initiated two new wind turbine projects with a combined capacity of 6.6 MW.The company said its experience in battery-backed power solutions through its Numeric business, coupled with more than a decade of expertise in solar energy, provides a strong platform to build a comprehensive energy storage portfolio. It aims to offer solutions ranging from small hybrid systems for commercial establishments to utility-scale BESS installations supporting large renewable energy projects.Swelect also said the growth of the storage sector would require supportive regulatory frameworks and that it is actively engaging with industry bodies and policymakers to facilitate regulations covering BESS connectivity, grid integration and operations.Meanwhile, the company has formed a joint venture with FortifyGrid LLC to tap emerging energy storage opportunities in the United States. The partnership is intended to provide Swelect with exposure to one of the world’s most advanced storage markets, enabling it to selectively participate in projects as an investor while building technical and commercial expertise in storage-led energy systems.“Our objective is to expand our Independent Power Producer portfolio to approximately 1 GW over the next two years while simultaneously strengthening our EPC business and expanding our rooftop and channel distribution businesses,” Shanmugasundaram said in the company’s latest annual report.He said the company enters this growth phase with a strong financial position. It currently has an IPP portfolio of over 159 MW, fixed deposits and mutual fund investments of around ₹500 crore, a largely unencumbered asset base, and a highly deleveraged balance sheet with low debt.
