Statcon Energiaa and Su-vastika partnership targets $32 billion market opportunity by 2030.
Two prominent Indian energy companies have joined forces to capitalize on the country’s rapidly expanding battery storage market, which analysts project will grow from $7.8 billion to over $32 billion within six years.
Statcon Energiaa and Su-vastika announced their strategic collaboration this week, focusing on lithium-based Battery Energy Storage Systems (BESS) for both domestic deployment and international exports. The partnership comes as India accelerates its transition away from diesel generators and traditional lead-acid battery systems.
The collaboration brings together complementary strengths: Statcon Energiaa’s expertise in battery storage systems and grid-connected solar inverters, and Su-vastika’s innovation portfolio including patents in lithium batteries and storage technologies.
“My vision is clear—to eliminate the need for DG sets in both residential and commercial sectors by empowering India with reliable, efficient BESS solutions,” said Kunwer Sachdev, Su-kam founder and industry veteran known as the “Inverter Man of India.”
Manoj Pande, founder and managing director of Statcon Energiaa, emphasized the partnership’s market timing. “With the aspirations of a rising New India, we firmly believe that lithium batteries represent the future. This strategic partnership empowers us and our channel partners with a complete and future-ready range of lithium-based solar hybrid solutions.”
The alliance operates under significant financial backing from Rotomag Enertec Ltd, which has acquired majority stakes in both companies. Rotomag Managing Director Umesh Balani is pursuing a consolidation strategy across India’s solar industry, building on the company’s existing position in solar water pumping systems.
Industry observers note the partnership reflects a broader trend toward collaboration in India’s renewable energy sector. “This is the era of collaboration, not competition, for Indian power electronics companies,” said Khushboo Sachdeva, co-founder of Su-vastika Systems.
The Indian battery storage market’s projected 27% compound annual growth rate is driven by government decarbonization initiatives and increasing adoption of lithium-ion technology. The partnership positions both companies to capture market share domestically while expanding internationally.
The companies plan to leverage shared intellectual property, research and development resources, and service capabilities to make advanced energy solutions more accessible across India’s diverse market segments.
For more information about this partnership, contact Khushboo Sachdev at khushboo@suvastika.com or Dr. Charusmita at charusmita@energiaa.in
