Archive · 4 Oct 2026
Three Indian Companies Target 37 GWh Storage Boom
India plans to spend ₹50,000 crore to help build battery storage systems.
These systems can save electricity and provide it when solar and wind power are not producing enough.
Three companies are preparing to work in this growing area.
Pace Digitek plans to expand its storage manufacturing, while Vikram Solar is building a larger storage and battery-making business.
Premier Energies is also building storage plants and looking for a technology partner.
Together, their stated targets add up to 37 GWh of capacity.
The companies have different financial results and business plans.
Their success will depend on turning construction plans into orders, sales and profits.
The article says this is information for investors, not a recommendation to buy the shares.
India approved ₹50,000 crore for deploying 50 GWh of battery storage under Green Energy Corridor Phase III.
Pace Digitek has 5 GWh of operational capacity and plans to reach 10 GWh by Q3 FY27.
Vikram Solar is building an integrated 15 GWh storage ecosystem, including planned assembly and cell facilities.
Premier Energies is constructing plants for 12 GWh of BESS containers and is seeking a technology partner.
The article identifies execution, order conversion and margin pressure as factors to monitor; planned capacity is not guaranteed commercial success.
- Who
- Pace Digitek, Vikram Solar and Premier Energies.
- What
- The companies are pursuing BESS capacity plans totalling 37 GWh amid India’s government-backed storage programme.
- When
- The programme supports deployment under Green Energy Corridor Phase III; company targets and financial figures include FY27, FY28, FY29 and FY30.
- Where
- India.
- Why
- Battery storage can help manage intermittent solar and wind generation, meet peak demand and supply power during non-solar hours.
Opportunity
Risks and execution
Storage market potential
Opportunity
The government’s ₹50,000 crore allocation and rising renewable capacity could expand demand for battery storage and related infrastructure.
Risks and execution
The article cautions that planned capacity may take longer than expected to turn into commercial orders and revenue.
Company expansion plans
Opportunity
Pace Digitek, Vikram Solar and Premier Energies are building or planning capacity across manufacturing, assembly and storage projects.
Risks and execution
Several facilities are still planned or under construction, and the companies’ ability to execute and convert capacity into profitable business remains to be demonstrated.
Financial performance
Opportunity
Premier Energies reported 29% operating EBITDA margin in Q1 FY27, while all three companies have reported order books or executable visibility.
Risks and execution
Vikram Solar reported an approximately 8.1% EBITDA margin and an 85.1% year-on-year decline in net profit; Pace Digitek’s blended margin also fell as its lower-margin energy business grew.
- Government BESS allocation
- ₹50,000 crore for 50 GWh under Green Energy Corridor Phase III.
- Broader programme
- ₹1.86 lakh crore, including ₹1.36 lakh crore for intra-state transmission systems, to support evacuation of up to 135 GW of renewable energy by FY33.
- Combined company targets
- 37 GWh: Pace Digitek 10 GWh, Vikram Solar 15 GWh and Premier Energies 12 GWh.
- Pace Digitek order book
- ₹10,803 crore as of June 30, 2026; its executable energy order book was ₹8,453 crore.
- Vikram Solar order book
- 7.9 GW as of June 30, 2026; the article says it consists entirely of Non-DCR products.
- Premier Energies order book
- ₹15,000 crore as of Q1 FY27.
- Q1 FY27 net profit
- Pace Digitek: ₹62.5 crore; Vikram Solar: ₹19.8 crore; Premier Energies: ₹471.9 crore.
- Key risk noted
- BESS capacity additions may take longer than expected to translate into commercial orders; execution will affect returns.