Havells India Ltd has signed a Memorandum of Understanding (MoU) with Norway-based Pixii AS to enter the Battery Energy Storage System (BESS) segment, as per an exchange filing dated July 10, 2026.
The agreement was announced on July 9 and is to support the development of battery energy storage solutions for the Indian market. The signing took place in the presence of Norway's Ambassador to India, May-Elin Stener, along with officials from Havells, Pixii and the Embassy of Norway.
The collaboration will begin with pilot installations to study customer requirements and assess commercial feasibility. The companies will then work on developing integrated battery energy storage systems before moving to local manufacturing in India.
They also plan to jointly develop products suited to Indian operating conditions and market requirements as part of the next phase of the partnership.
Havells will bring its manufacturing facilities, sales network and distribution reach in India to the partnership. Pixii will contribute its battery energy storage technology, which is already used in several international markets.
The Norwegian company manufactures modular systems that range from small kilowatt-hour units to multi-megawatt-hour installations for grid support, commercial and industrial facilities, and electric vehicle charging infrastructure.
According to the company, India's Battery Energy Storage System market for residential and commercial and industrial (C&I) segments is expected to reach ₹10,000 crore to ₹12,000 crore by FY30.
The market is projected to grow at a compound annual growth rate of more than 100% over the next three years, supported by increasing renewable energy capacity and higher demand for dependable power supply.
Havells has operations in more than 60 countries and sells products under brands including Havells, Lloyd, Crabtree, Standard and Reo. Pixii is headquartered in Kristiansand, Norway, and has operations across Europe, Asia-Pacific and the Americas.
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As of July 10, 2026, 1:41 pm, Havells India Ltd share price was trading at ₹1,186.70, down 0.34% from the previous closing price.
With the MoU now signed, Havells and Pixii plan to execute the partnership in stages. The roadmap includes pilot deployments, localisation of products and manufacturing for the Indian market.
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Published on: Jul 10, 2026, 2:11 PM IST
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