Cygni Energy Private Limited and Indus Towers Limited have signed a memorandum of understanding of a joint venture in the energy sector. The purpose of signing the MoU was to explore possibilities for using battery energy storage systems (BESS) in telecom infrastructure projects. The MoU will allow the companies to consider manufacturing capacities of 1.5 gigawatt hours for BESS.
The companies have agreed to look at potential battery technologies that could be utilized for telecom projects. This decision was taken based on the need to increase reliability, energy efficiency, and sustainability of telecom networks in India
Venkat Rajaraman, Founder and CEO, Cygni Energy said, “For us, this initiative goes beyond supplying batteries. It is about building the scale, technology capabilities and manufacturing readiness required to support the evolving energy needs of one of the world’s largest passive telecom infrastructure companies.”
Cygni Energy, developed in IIT Madras, is an Indian company which specializes in energy storage, manufacturing, battery engineering, battery Management Systems and battery pack assembly.
