Vadodara, Aug 25: Gujarat Inject Limited has entered into a strategic business partnership with England-based Storenergy Limited to jointly explore opportunities in the Renewable Energy Storage Technology space in India.
As part of the agreement, the two companies will work together to identify, evaluate and develop potential REST opportunities in the Indian market. The partnership is aimed at enabling GIKL to participate in the growing renewable energy storage segment and explore related business opportunities in the country.
Renewable energy storage is increasingly gaining attention as industries and energy users look for more efficient ways to store and manage energy. Against this backdrop, the partnership brings together GIKL’s interest in the Indian market with Storenergy Limited’s capabilities in the sector.
Commenting on the development, Mr. Murli Shivshankaran Nair, Managing Director, Gujarat Inject (Kerala) Limited, said:
“India’s energy sector is going through an important phase of transition, and energy storage is expected to become an increasingly relevant part of this journey. Our partnership with Storenergy Limited gives us an opportunity to explore the Renewable Energy Storage System segment in a focused manner. We look forward to identifying meaningful opportunities together and building a strong presence in this emerging area.”
The agreement provides a framework for both companies to collaborate on suitable opportunities. Commercial terms for individual projects or opportunities will be finalised at a later stage. The transaction is not a related-party transaction.