New Delhi, 28th June 2021: LNJ Bhilwara Group, a multi-diversified conglomerate, today announced its entry into the lithium-ion battery business through its private promoter entities. The group has entered into a joint venture with ReplusEngitech Pvt Ltd, a Pune-based company pioneering advanced energy storage products and solutions toestablish a 1GWh plant for Lithium-Ion Battery Modules & Packs, Battery Management Systems (BMS), Energy Management Systems (EMS), and Containerized Battery Energy Solutions (BESS).
These products will cater to large Energy Storage Systems (ESS) for Renewable Integration, Micro Grid, Utility support, Railways, Telecom, Data centers, Transmission & Distribution Demand Management, Power Walls for Commercial, and Residential Applications. Battery Packs for 2-wheelers, 3-wheelers (both Swappable and Charge & Drive), Electric-buses, and 4-wheelers are among the E-mobility Products.
Commenting on the venture, Vice-chairman at The LNJ Bhilwara Group, RijuJhunjhunwala said, “We are committed to making a significant contribution towards bringing down carbon emission through energy-efficient, clean, and green cutting edge technological products and solutions from India to the world. Lithium-ion and greener technologies are the best way forward in that direction. We are hopeful that our existing capabilities in graphite and anode, along with our new venture, will be the flag bearer in the new norm of the world. We are eyeing to build a strong presence in the energy storage domain and contribute to Make in India through this venture. The new business will also leverage LNJ’s global presence to spread its wings in the future.”
The LNJ Bhilwara-Replus venture, Executive Director and CEO, Hiren Pravin Shah said, “We are extremely privileged to partner with the esteemed LNJ Bhilwara group.Both the organizations have a strong synergy in vision to enable a global transition towards sustainable energy. Replus endeavors to create solutions for both e-mobility and stationary applications. Our strength will be in offering optimum technology, reliable and efficient products in lithium-ion chemistries such as LFP, NMC, LTO, and SSD. Going forward, we would be primary movers in the new technology and smart energy solutions in the market.”
Further, Shah added, “The greenfield plant in Pune will be operational by mid-2022, with a capacity of 1GWh in Phase 1. In Phase 2, we are aiming to increase the capacity to 5GWh by 2024. In the medium run, we intend to be India’s leading provider of energy storage solutions. Eventually, we will target to be amongst the top 10 providers globally.”
LNJ Bhilwara Replus will focus on building high-tech, energy-efficient, smart, secure, and sustainable solutions that enrich the lives and livelihoods of communities, businesses, mobility, and utilities throughout the world.
According to the International Energy Association (IEA), the world needs 266 GW of energy storage by 2030 to keep global warming at 2 degrees Celsius, up from 176.5 GW in 2017. The India Energy Storage Alliance (IESA) estimated that India would have about 70 GW and 200 GWh of energy storage capacity by 2022, which is among the largest in the world.